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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Discuss the opportunity costs of attending college for four years. Is college more or less costly than you thought it was? Explain.

To determine

Opportunity cost of attending college for four years.

Explanation

The opportunity cost will vary. The opportunity costs the student faces for studying college are cost of tuition fees and other relevant costs. For example, the total cost needed for studying in college is $25,000 in a year; the opportunity cost is one in which the student uses for other purposes, and he could have used the time period for relaxing or work instead of spending time for studying...

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