Questions
ECB1101 - S1 2025 Quiz 1
Single choice
For which of the following individuals would the opportunity cost of going to college be highest?
Options
A.a. A famous, highly paid actor who wants to take time away from show business to finish college and earn a degree
B.b. A promising young mathematician who will command a high salary once they earn their college degree
C.c. A student who is the best player on their college basketball team, but who lacks the skills necessary to play professional basketball
D.d. A student with average grades who has never held a job
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Step-by-Step Analysis
When considering opportunity cost, we focus on what you give up by choosing college over immediate earnings or other alternatives.
Option a: 'A famous, highly paid actor who wants to take time away from show business to finish college and earn a degree' represents a very high foregone income. If this actor stops work to study, they are giving up a substantial ongoing sa......Login to view full explanationLog in for full answers
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