Which Of The Following Is Not An Example Of The Opportunity Cost Of Going To School? (Solved)

The correct response is d) The amount of money that a student pays on rent for his or her residence while attending college or university.

What are some examples of opportunity cost of going to college?

College comes with a number of opportunity costs, including tuition, the expense of on-campus housing, and the loss of income that you would have received if you had chosen to work full-time rather than pursue a degree.

Which of the following should not be considered an opportunity cost of attending college?

As a result, money spent on living expenses that are the same whether or not a person attends college is not regarded an opportunity cost of attending college.

Which of the following is an example of opportunity cost?

A resource’s “opportunity cost,” as defined by economists, is the value of the resource’s next-highest-valued alternative use, as opposed to the value of the resource itself. In the case of a movie, for example, you will be unable to spend that time at home reading a book, and you will be unable to use the money you have spent to purchase something else.

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Which of the following is an opportunity cost of attending university?

The opportunity cost of attending college comprises the following elements: monetary costs (tuition and books).

What is the opportunity cost of an item?

The concept of opportunity cost states that the cost of one item is the value of the chance lost to do or consume something else; in other words, the value of the next best option equals the cost of the first item.

What is the opportunity cost of working?

When the government spends $15 billion on interest payments on the national debt, the opportunity cost is the amount of money that could have been spent on other initiatives, such as education or healthcare. If you decide not to go to work, the opportunity cost is the amount of money you would have earned.

Which of the following is not a scarce resource land labor capital entrepreneurship stocks?

Which of the following does not qualify as a rare natural resource? Stocks do not constitute a component of production and, as a result, do not constitute a scarce resource. All inputs of production, including land, labor, capital, and entrepreneurial activity, are limited in supply.

What is the opportunity cost of studying?

The opportunity cost is the difference between the time spent studying and the money that might have been spent on something else.

What is the opportunity cost of attending school quizlet?

It is the worth of the best alternative use of a person’s time, as well as the additional expenditures that person incurs as a result of his or her decision to attend college, that determines the opportunity cost of that person attending college.

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What are the types of opportunity cost?

Explicative opportunity costs and implicit opportunity costs are the two forms of opportunity costs that might occur. The explicit opportunity cost has a monetary value that can be measured.

Which scenario is the best example of opportunity cost?

The correct response is option a. A computer manufacturer reduces the number of laptops it manufactures in order to match the demand for tablets. The advantage derived from possessing a property is referred to as the opportunity cost.

What is the opportunity cost quizlet?

The opportunity cost is a financial cost. A choice results in the most desired option being rejected as a result of the decision.

What is an implicit opportunity cost of attending college?

Explicit and implicit costs of attending college are discussed in detail below. Tuition, room & board, fees, books, and transportation are all included in the direct costs of attending college. Implicit costs include the value of additional time sacrificed, as well as the worth of interest earnings that were not earned while on the job.

Which of the following best describes the opportunity cost of an action?

When it comes to the opportunity cost of an activity, which of the following best represents it? It is a subjective evaluation that can only be made by the one who makes the decision to take the activity in question.

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