Which of the following is an opportunity cost of attending c

Which of the following is an opportunity cost of attending college? the cost of your apartment or dorm the income you could have earned if you didn\'t attend college the cost of the food that you consume while you are attending college o the education you gain from attending college.

Solution

Which of the following is an opportunity cost of attending college?

Ans. the income you could have earned if you didn\'t attend college.

Opportunity cost is the benefit foregone by a person for not choosing the second best alternative. After finishing the school studies, a person faces two options,either topursue higher studies by attending college or join a job and earn money. If a person chooses the first alternative of attending college, he has to sacrifice the second alternative of joining a job and earn money.

So the opportunity cost of attending college is the income you could have earned if you didn\'t attend college, which is actually the benefit foregone by attending college.