Question

Every society faces​ trade-offs because we live in a world of scarcity. Suppose a​ student-athlete has the opportunity to earn ​$1,000,000 next year playing for a minor league baseball​ team, ​$300,000 next year playing for a European professional football​ team, or​ $0 returning to college for another year. The opportunity cost of the student-athlete returning to college next year is________

Answer 1

The opportunity cost of the student-athlete returning to college next year is $1,000,000

Step-by-step explanation:

Opportunity costs is the benefit that the student-athlete misses out when choosing one alternative over another.

In this case, the opportunity costs is playing for a minor league baseball​ team (​$1,000,000) because is the higher offer between the alternatives.