Question

What is the opportunity cost of earning an advanced college degree

Answer 1

Answer:

The opportunity cost would be $240k

Explanation:

The college fee per year is $30k plus expenses. After 4 years, you will be out $120k. The opportunity cost in this case will be $240k since you chose to go to college instead of working. Thus, you will earn less or no money during the years that you are in college.

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