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melamori03 [73]
3 years ago
7

During the summer you have made the decision to attend summer school, which prevents you from working at your usual summer job i

n which you normally earn $8,000 for the summer. Your tuition cost is $3,000 and books and course supplies $1,500. In terms of dollars, the opportunity cost of attending summer school is ________.
Business
1 answer:
sveta [45]3 years ago
7 0

Answer:

$8,000

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

Because I decided to attend summer school, I forgoed the opportunity of working and earning income. Therefore, my opportunity cost is the amount of income I would have earned if i chose to work instead.

I hope my answer helps you

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