Which of the following would NOT be part of the opportunity costs of going to college?

Choose 1 answer:
(A) The money spent on tuition
(B) Interest payments on student loans
(C) Money spent on textbooks
(D) Foregone wages given up to attend college
(E) Money spent on clothes

Question

Which of the following would NOT be part of the opportunity costs of going to college?

Choose 1 answer:
(A) The money spent on tuition
(B) Interest payments on student loans
(C) Money spent on textbooks
(D) Foregone wages given up to attend college
(E) Money spent on clothes

Accepted Answer

***E*** ∻Key Concept∻ ⚹Opportunity Cost⚹ ∻Explanation∻ ⚹Opportunity cost refers to the value of the next best alternative foregone as a result of making a decision. In the context of going to college, opportunity costs include the income one could have earned by working instead of attending school, the cost of tuition, and other educational expenses that could have been used for different purposes. Money spent on clothes is typically a personal expense that would be incurred regardless of attending college and is not considered an opportunity cost of the education itself.⚹◊What are the key determinants of opportunity costs in decision-making?⍭ Generate me a similar question◊

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