The exact figure of course depends on what other job opportunities would actually be available to the person. should be counted only to the extent that they are more expensive at college … B) $5,900. The opportunity cost of going to college is A. The total spent on food, clothing, books, transportation, tuition, lodging, and other expenses. Thus, you will earn less or no money during the years that you are in college. The value of the best opportunity a student gives up to attend college. Answer: C Diff: 3 Topic: Why … The college fee per year is $30k plus expenses. Opportunity cost is also referred to as alternative cost. The opportunity cost of going to college for a student receiving a scholarship A. is the risk of dropping out. C. 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. OB. 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. B. is the food and living expenses that she has to purchase while in college. It is the cost of given up something to gain something else. Answer: Opportunity cost refers to foregone earning in economics. 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. The value of the best opportunity a student gives up to attend college. 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. On the other hand, this person might be a recent high school … A good measure of this “opportunity cost” is the income that a newly minted high school graduate could earn by working full-time. The opportunity cost in this case will be $240k since you chose to go to college instead of working. Students give up a lot to attend college their time, the luxury of life, travelling and having fun and their tuition fee. 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 … In that regard, your explicit opportunity cost is any alternative use of that $3,000. Mario has a side business in addition to his regular job. 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. B. 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