The opportunity cost of going to college is
A) the total spent on food, clothing, books, transportation, tuition, lodging, and other expenses.
B) the value of the best opportunity a student gives up to attend college.
C) zero for students who are fortunate enough to have all of their college expenses paid by someone else.
D) zero, since a college education will allow a student to earn a larger income after graduation.

Question

Quizplus · Accepted Answer

The opportunity cost is the value of the next best alternative that is foregone when a decision is made. In this case, it is the value of what a student gives up to attend college, such as potential earnings from working instead.

The Opportunity Cost of Going to College Is