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    The opportunity cost of attending college is assessed.

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    What is the opportunity cost of attending college?

    i.e avg cost for a degree, the salary of a high school grad vs college grad.

    What is the best alternative you give up to attend college?

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    Solution Preview

    Opportunity cost is defined as the value of some activity relative to the best alternative to that activity. It is the sacrifice related to the second best choice available to someone who must choose only one activity from many options.

    The opportunity cost of attending college is what you give up in order to attend college. For instance, if you could work after graduating high school, then the implicit cost for attending college would be the time ...

    Solution Summary

    This solution provides a clear definition of opportunity cost and examines the opportunity cost of attending college to better illustrate the issues.