Question

Which of the following is not an example of the opportunity cost of going to school? a. The party a student could have enjoyed if he had not stayed in to study for his exam. b. The money a student spends on rent for his apartment while attending school. c. The nap a student could have enjoyed if he had not attended class. d. The money a student could have earned by working if he had not gone to college.

Answer 1

b. The money a student spends on rent for his apartment while attending school.

Step-by-step explanation:

An opportunity cost is defined as the benefit forgone for choosing the current opportunity, as in the given case, anything which a student could do defines the opportunity cost, in case he did not go to school.

Here, statements a, c, and d clearly represents the opportunities forgone in choosing to attend the school by the student.

Statement b provides only the cost he incurs for current choice of going to school.

Therefore, Statement b is not an example of opportunity cost.