Question

Define opportunity cost. What is the opportunity cost to you of attending college? What was your...

Define opportunity cost. What is the opportunity cost to you of attending college? What was your opportunity cost of coming to class today?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The value an individual give up for choosing another alternative is popularly known as opportunity cost. It is very helpful in selecting a best course of action with few disadvantages among various alternatives.

Opportunity cost so attending college comprises of all related costs pleasure, income experience which lost as an individual prefer to attendee college. The opportunity costs of attending college is different for different individual. It depends on the value of choice that one may select if he is not going to college. For myself opportunity cost of attending college is pleasure that I have in job that I use to go doing vacation time.

Pleasure of marriage of sister that I missed due to the class becomes today opportunity cost.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Provide your own definition of “opportunity cost”. Discuss what the opportunity cost of attending college is...
Provide your own definition of “opportunity cost”. Discuss what the opportunity cost of attending college is for you, noting that the concepts of opportunity costs and explicit monetary costs are not the same.
What is your opportunity cost of attending classes on campus? For the purposes of keeping things...
What is your opportunity cost of attending classes on campus? For the purposes of keeping things simple, focus on finding the opportunity cost, expressed as a dollar amount of your opportunity cost of attending a one-hour class on campus. First, find all your alternatives to attending class. Then assign a dollar value to each alternative. Next rank your alternatives, and last, based on the highest ranked alternative, share your opportunity cost. Since you have made the decision to take this...
Explain the following comment "Affluence tomorrow requires sacrifice today."  What is the opportunity cost of attending college?  Does...
Explain the following comment "Affluence tomorrow requires sacrifice today."  What is the opportunity cost of attending college?  Does graduating from college guarantee economic security? Use a grapher to draw a production possibility curve and post your curve here. You will not receive credit for the discussion if you do not post a graph.
What is the non-monetary opportunity cost of attending college? a. Money spent for tuition b. Wages...
What is the non-monetary opportunity cost of attending college? a. Money spent for tuition b. Wages that would be earned if getting a job instead of going to college c. getting a job For the record, choice c is wrong.
The opportunity cost of attending college is likely higher for a high-school graduate who leaves a...
The opportunity cost of attending college is likely higher for a high-school graduate who leaves a job grilling hamburgers than it is for a high-school dropout who leaves a job working as a computer network administrator.
Suppose your college institutes a new policy requiring you to pay for a permit to park...
Suppose your college institutes a new policy requiring you to pay for a permit to park your car in a campus parking lot A) the cost of parking permit is not part of the opportunity cost of attending college if you would not have to pay for parking otherwise B) the cost of parking permit is part of the opportunity cost of attending college if you would not have to pay for parking otherwise C) only half of the cost...
Explain Opportunity Costs of not working full time and instead attending college. Discuss what would have...
Explain Opportunity Costs of not working full time and instead attending college. Discuss what would have to happen to make these opportunity costs "worth it".
Attending college involves incurring many costs. Select the example of a college cost that could be...
Attending college involves incurring many costs. Select the example of a college cost that could be assigned to each of the following classifications Choices to fill in the blanks on the table: -cost of attending one college versus another -cost of books -social organization dues -tution cost per course for a full time student, or cost per meal on the colleges meal plan -tuition for prior semesters -wages foregone while a student a. Sunk cost b. Discretionary cost c. Committed...
          39.. How is the unemployment rate related to the opportunity cost of college? (1 point)...
          39.. How is the unemployment rate related to the opportunity cost of college? (1 point) A) As the unemployment rate increases, the opportunity cost of attending college falls because fewer opportunities for employment exist. B) As the unemployment rate decreases, the opportunity cost of attending college falls since it becomes easier to pay for tuition when employed. C) As the unemployment rate increases, the opportunity cost of attending college increases because fewer people are giving up the opportunity of...
3. The opportunity cost of attending college is likely higher for a high-school graduate who leaves...
3. The opportunity cost of attending college is likely higher for a high-school graduate who leaves a job grilling hamburgers than it is for a high-school dropout who leaves a job working as a computer network administrator. a. True b. False 4. Which of the following would NOT shift a product's demand curve? a. an increase in the price of the product b. an increase in the price of a complement c. an increase in the price of a substitute...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT