As the term "opportunity cost" is defined in the text, 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 cash cost.
C)the value of the student's time but not tuition, which is a monetary cost.
D)neither tuition nor the value of the student's time, since obtaining a college degree makes one's income higher in the future.
E)neither tuition nor the value of the student's time, at least at subsidized state universities.

Question

Quizplus · Accepted Answer

According to the text, opportunity cost includes both the monetary cost of tuition and the value of the student's time that could have been spent earning money instead of attending college. Therefore, option A is the correct answer.

As the Term "Opportunity Cost" Is Defined in the Text