The opportunity cost in this case will be $240k since you chose to go to college instead of working. B. On the other hand, this person might be a recent high school … Thus, you will earn less or no money during the years that you are in college. C. Answer: C Diff: 3 Topic: Why … The opportunity cost of going to college is A. It is the cost of given up something to gain something else. 14) If your tuition is $5,000 this semester, your books cost $600, you can only work 20 rather than 40 hours per week during the 15 weeks you are taking classes and you make $15 per hour, and your room and board is $3000 this semester, then your opportunity cost of attending college this semester is A) $5,600. C) $10,100. On average, three-fourths of the private cost of a college education–the cost borne by the student and the student’s family–is the income that college students give up by not working. 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 … The college fee per year is $30k plus expenses. The value of the best opportunity a student gives up to attend college. For a college student who wishes to calculate the true costs of going to college, the costs of room and board O A. should be counted in full, regardless of the costs of eating and sleeping elsewhere. OB. Mario has a side business in addition to his regular job. D) $11,600. should be counted only to the extent that they are more expensive at college … The value of the best opportunity a student gives up to attend college. After 4 years, you will be out $120k. The opportunity cost of going to college for a student receiving a scholarship A. is the risk of dropping out. B) $5,900. Students give up a lot to attend college their time, the luxury of life, travelling and having fun and their tuition fee. If the potential student is an experienced electrician making $50,000 (USD) a year, the opportunity cost of college upon leaving this job would be $50,000 (USD) a year plus the explicit cost. The opportunity cost of going to college is the wages he gave up working full time for the number of years he was in college. The exact figure of course depends on what other job opportunities would actually be available to the person. To determine a rough opportunity cost for attending college, determine your implicit costs. In that regard, your explicit opportunity cost is any alternative use of that $3,000. The total spent on food, clothing, books, transportation, tuition, lodging, and other expenses. B. is the food and living expenses that she has to purchase while in college. An opportunity cost of going to college would be the four years of potential foregone earnings that could have been earned in the labor market, had the decision to go to college not been made. A good measure of this “opportunity cost” is the income that a newly minted high school graduate could earn by working full-time. If you got a job today making $40,000 per year, that's $160,000 you will not earn over four years. Assume you decide to go to school and not work while in college. If he decides to spend more time on his side business, the opportunity cost … Let's say you own a landscaping company and you add several brand-new lawn mowers to your business for $3,000. Opportunity cost is also referred to as alternative cost. Answer: Opportunity cost refers to foregone earning in economics. Rough opportunity cost in this case will be out $ 120k per year, that 's $ 160,000 will. Referred to as alternative cost be out $ 120k after 4 years, you will not over... 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