Answer to Question #131110 in Economics for Kadin Murphey

Question

Gallagher is planning on going to college in a few years. The tuition is $10,000 a year. Assuming that Gallagher Goes to college for four years, Is the opportunity cost of his attending college $40,000

Answer 1

The opportunity cost of his attending college is his possible salary if he is going to work somewhere instead of attending college. So, $40,000 is not the opportunity cost of his attending college.