Question

One major part of the opportunity costs of one's decision to go to college after high school graduation is the____________________.
a. additional income that one can get if one had a college degree.
b. high-school diploma needed in order to apply for college.
c. full-time job that one could have gotten instead of going to college.
d. education that one gets while in college.

Answer 1

Answer:

The correct answer is letter "C": full-time job that one could have gotten instead of going to college.

Explanation:

Opportunity costs can be defined as the return of the chosen option compared to the options forgone. Opportunity costs represent also the return of the best next available option after the option selected. Opportunity costs can be positive or negative which implies the option chosen was not the most optimal.

In this case, the opportunity cost of going to college after finishing school is represented by starting to work in a full-time job to earn money.