After graduating from a high school, Juan decided to enroll in the Lehman college rather than...
After graduating from a high school, Juan decided to enroll in the Lehman college rather than to accept a job that offered a salary of $25,000 per year. If the annual tuition and fees are $4,600, the annual opportunity cost of attending the college is
(a) $4,600
(b) $7,400
(c) $25,000
(d) $29,600
Homework Answers
Ans) the correct option c) $ 25,000
Opportunity cost is the cost incurred in choosing the next best alternative.
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