Asked by
Denika Wells
on Dec 12, 2024
Verified
For a college student who wishes to calculate the true costs of going to college, the costs of room and board
A) should be counted in full, regardless of the costs of eating and sleeping elsewhere.
B) should be counted only to the extent that they are more expensive at college than elsewhere.
C) usually exceed the opportunity cost of going to college.
D) plus the cost of tuition, equals the opportunity cost of going to college.
Opportunity Cost
The act of abandoning potential benefits available in other choices upon selecting a specific alternative.
Room and Board
Refers to the combined cost of housing and food for students at a university or boarding school.
College Expenses
Costs associated with attending college, which can include tuition, room and board, books, supplies, and other living expenses.
- Acquire an understanding of opportunity cost and its impact on decision-making processes.
Verified Answer
WR
Learning Objectives
- Acquire an understanding of opportunity cost and its impact on decision-making processes.