The opportunity cost of going to college includes:
A)both tuition and the value of the student's time.
B)tuition, but not the value of the student's time, which is a non-monetary cost.
C)neither tuition nor the value of the student's time, since obtaining a college degree makes one's income higher in the future.
D)neither tuition nor the value of the student's time, at least at state-supported universities and colleges.

Question

The opportunity cost of going to college includes:
A)​both tuition and the value of the student's time.
B)​tuition, but not the value of the student's time, which is a non-monetary cost.
C)​neither tuition nor the value of the student's time, since obtaining a college degree makes one's income higher in the future.
D)​neither tuition nor the value of the student's time, at least at state-supported universities and colleges.

Quizplus · Accepted Answer

The opportunity cost of going to college includes both tuition and the value of the student's time. The student could have earned money working or pursued other opportunities instead of going to college, so the value of their time must be considered in addition to the cost of tuition.

The Opportunity Cost of Going to College Includes