Question

During the summer you have made the decision to attend summer school, which precludes you from working at your usual summer job in which you normally earn $6,000 for the summer. Your tuition cost is $3,000, books and supplies cost $300, and room and board cost $1,000. The opportunity cost of attending summer school is....

Answer 1

the opportunity cost of attending summer school is $10,300

Step-by-step explanation:

The computation of the opportunity cost of attending summer school is shown below:

= Earnings for the summer + tuition cost + books and supplies cost + room and board cost

= $6,000 + $3,000 + $300 + $1,000

= $10,300

hence, the opportunity cost of attending summer school is $10,300