Question

From Opportunity cost point of view. Although attending college is expensive, time-consuming, and requires effort, but people decide to attend college. Explain why?​

Answer 1

Answer:

there is bigger value and reward in attending college.

Explanation:

Although attending college is expensive, time-consuming, and requires effort, but people decide to attend college because according to the opportunity cost point of view, there is bigger value and reward in attending college.

Opportunity cost in simple terms is the loss of one thing in order to achieve something bigger over a course of a particular action. So attending college might mean loss of time, expensive, and putting effort, the price of it is bigger in the future. Therefore, people decide to attend college.