Answer:
Step-by-step explanation:
Opportunity cost is the cost that a person has to bear if he does not do the next best thing available for him . For joining college , he shall have to forego the benefit of joining high school .
Salary for four years = 4 x 25000 = 1,00,000.00
He shall have to bear tuition fee and for text book .
expenses for tuition fee = 4 x 15000 = 60,000.00
expenses for text book = 3000 x 4 = 12000.00
expenses for room rent and boarding will not be included in the opportunity cost as this expense is not related with joining the college . It is so because he shall have to bear this expense even though he does not join the college as his parents are not paying these expenses .
So total opportunity cost of joining college = 1,00,000.00 + 60,000.00 + 12000.00 = 172000.00