The opportunity cost of choosing to go to work instead of going to college is the net value of going to college. Opportunity cost refers to the value of the next best alternative that you forgo when making a decision. In this case, if you choose to work, you give up the potential benefits and value associated with going to college.
You are trying to decide whether to get a job or go to college. They are about the same distance away, and there is no monetary cost for either option. If you choose to go to work, what is the opportunity cost?
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the net value of going to work
the net value of going to college
the difference in value of the two options
there is no monetary cost for either choice, so there is no opportunity cost.
1 answer
1 answer