Most students attending college pay tuition and are unable to hold a full -time job. For these students, tuition is
A) not part of the opportunity cost of going to college. Neither are their forgone earnings from not holding a full-time job.
B) part of the opportunity cost of going to college. Their forgone earnings from not holding a full-time job are not part of the opportunity cost of attending college.
C) not part of the opportunity cost of going to college, but their forgone earnings from not holding a full-time job are part of the opportunity cost of attending college.
D) part of the opportunity cost of going to college. So are their forgone earnings from not holding a full-time job.

Question

Quizplus · Accepted Answer

Tuition and forgone earnings from not holding a full-time job are both part of the opportunity cost of attending college. Opportunity cost includes all the benefits or values of the next best alternative that must be given up in order to pursue a certain action or decision. Therefore, for students attending college, the cost of tuition and the forgone earnings from not holding a full-time job (which could have been their next best alternative) are all part of the opportunity cost of attending college.

Most Students Attending College Pay Tuition and Are Unable to Hold