Final answer:
The opportunity cost of going to college rather than starting work immediately after high school includes both monetary and non-monetary factors. It involves the costs of college tuition, fees, and living expenses, as well as the lost wages and work experience from the job you would have taken. However, it also offers the potential for a more satisfying career path and increased salary in the future.
Step-by-step explanation:
The opportunity cost of going to college rather than starting work immediately after high school includes both monetary and non-monetary factors. On the financial side, you would have to consider the amount of college tuition, fees, and living expenses that you will have to pay during your college years. This can be a significant cost.
However, there are also non-monetary factors to consider. By going to college, you would be sacrificing the wages and work experience you could have gained from starting work immediately after high school. This means you would miss out on earning potential and valuable hands-on experience in the workforce. Additionally, going to college can provide you with the opportunity to choose a more satisfying career path and increase your chances of earning a higher salary in the long run.
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