The opportunity cost of going to college or university for four years is
A)zero.
B)equal to the wage rate a person will earn after graduation.
C)the cost of tuition and books and four years of lost wages from employment.
D)the cost of tuition, residence fees and books.
E)the least valued alternative one forfeits to attend.

Question

Quizplus · Accepted Answer

Opportunity cost includes both the direct costs (tuition and books) and the indirect costs (lost wages from employment) of attending college or university.

The Opportunity Cost of Going to College or University for Four