--%>
Assignment Help - homework help

What is the opportunity cost of attending college

What is the opportunity cost of attending college?  In 2000, nearly 80% of college-educated Americans held jobs, whereas only about 40% of those who did not finish high school held jobs.  How might this difference relate to opportunity costs?

E

Expert

Verified

The opportunity cost of attending college (and of doing anything else) consists of the income forgone while attending college (and of doing anything else such as enjoying leisure) and the value of the goods that the student or the student’s parents sacrifice in order to pay tuition and buy books, and other items necessary for college but not necessary otherwise.

Those who are college-educated have the potential of earning more income than those who did not finish high school.  The opportunity cost (sacrifice of goods and services) of not working is much greater for those with the higher earning potential.

   Related Questions in Business Economics

  • Q : Assertion for the levying of a tax on

    Use the circular flow model to confirm this assertion for the levying of a tax on air polluters?

    		•
  • Q : Introduction of the term Control

    Give a brief introduction of the term Control Principle?

    		•
  • Q : Characteristics of Perfectly

    Perfect competition is characterized by all of the following except w) heavy advertising by individual sellers. x) homogeneous products. y) sellers are price takers. z) a horizontal demand curve for individual sellers.

    Q : Individuals self-interests and broader

    A natural harmony among individuals serving their own self-interests and the broader interests of society was the main theme of the theories of __________, although this concept was not accepted through _________. Determine the correct answer from given options: (w) K

    		•
  • Q : The Federal corporate income tax Use

    Use the circular flow model to confirm this assertion for a 2% reduction in the Federal corporate income tax.

    		•
  • Q : Discuss the economic aspects of ticket

    Discuss the economic aspects of ticket scalping also identifying the gainers and losers?

    		•
  • Q : Profit in perfect competition leads to

    An increase within demand for "green-certified" products will ________ a firm's economic profit, and the raise within costs to have a product certified like "green" will ________ a firm's economic profit: w) increase; increase x) increase; decrease y)

    		•
  • Q : Illustrate Measuring unemployment

    Illustrate Measuring unemployment?

    		•
  • Q : Describe the Promoting stability

    Describe the Promoting stability?

    		•
  • Q : Nation’s production possibilities curve

    Suppose that, based on a nation’s production possibilities curve, for 10,000 pizzas domestically an economy must sacrifice to get the one additional industrial robot it desires, but can get that robot from another country in exchange for 9,000 pizzas. To the fol

    		•