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What is the Opportunity cost of a particular good?
The opportunity cost of a certain good is the cost of the next best good that you are forgoing. It is NOT a sum of all the other possibilities. It is just the cost of the next best alternative. For example: The opportunity cost of going to college is the money that you could have earned in a job. Say you spend $80,000 to go to college for four years, but if you had gotten a job right out of high school, you could have made $15,000 a year. The opportunity cost of attending college is the $60,000 you would have earned if you had gotten the job right out of high school.
Does an opportunity cost have value?
opportunity cost can have a value, especially if you are looking at such things as the college/job thing. If you go to college rather than take a job, your opportunity cost is the amount of money you lose from not working at the job. Opportunity cost does not always have to have a value. Again with the college/job example, if you take a job rather than go to college, your opportunity cost can be things like more education and college memories, etc. Opportunity cost is simply "what you give up". Therefore, if you are giving up money, your opportunity cost has a monetary value. If you are giving up education or experience or the like, your opportunity cost technically has no monetary value, but you are still giving something up. Hope that answers the question.
You choose to work instead of attending college after graduation A cost of this choice would be?
penis hair
What statement describes one of the opportunity costs of attending college?
The money spent on tuition could've been invested in stocks or bonds.
What is your opportunity cost of going to college?
The main opportunity costs for going to college are time and money. However, there are also cases where someone may lose the opportunity to start a business or launch a product. If they wait, it may be too late and the opportunity completely lost.
What is the Opportunity cost of a particular good?
The opportunity cost of a certain good is the cost of the next best good that you are forgoing. It is NOT a sum of all the other possibilities. It is just the cost of the next best alternative. For example: The opportunity cost of going to college is the money that you could have earned in a job. Say you spend $80,000 to go to college for four years, but if you had gotten a job right out of high school, you could have made $15,000 a year. The opportunity cost of attending college is the $60,000 you would have earned if you had gotten the job right out of high school.
Does an opportunity cost have value?
opportunity cost can have a value, especially if you are looking at such things as the college/job thing. If you go to college rather than take a job, your opportunity cost is the amount of money you lose from not working at the job. Opportunity cost does not always have to have a value. Again with the college/job example, if you take a job rather than go to college, your opportunity cost can be things like more education and college memories, etc. Opportunity cost is simply "what you give up". Therefore, if you are giving up money, your opportunity cost has a monetary value. If you are giving up education or experience or the like, your opportunity cost technically has no monetary value, but you are still giving something up. Hope that answers the question.
Which of the following usually offers the lowest cost option for attending college?
local community college
What is one of the opportunity cost of college?
The opportunity cost of going to college refers to the amount of money the person would have potentially earned during that time period. If the person would have worked and earned $40,000 per year for four years while attending college, their opportunity cost is $160,000. Some economists also add the cost of paying tuition into their total figure. The money spent on tuition could've been invested in stocks or bonds. Time spent on schoolwork takes away from the chance to earn money at a job. Opportunity cost is a choice between two possible options where the benefits of one choice over another can be judged. This, for college, is basically saying is this education worth the large amount of money needed to get it?
Besides tuition what is one cost of attending college?
Missed opportunities to earn income
How would you calculate the opportunity cost of your college education if you lived at home and went to college full time for four years?
employment opportunity time consuming
You choose to work instead of attending college after graduation A cost of this choice would be?
penis hair
What statement describes one of the opportunity costs of attending college?
The money spent on tuition could've been invested in stocks or bonds.
What is your opportunity cost of going to college?
The main opportunity costs for going to college are time and money. However, there are also cases where someone may lose the opportunity to start a business or launch a product. If they wait, it may be too late and the opportunity completely lost.
Considering Cost of Living?
The cost of living is one important factor to consider in a college or university. When choosing a college to attend, a student should try to estimate the cost of living at that particular college. The cost of living can outweigh the benefits of attending any particular college or university. Schools in New York have a very high cost of living.
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
What is the cost of attending a Diploma Program at most colleges?
what is the cost of attending a diploma program
