(Answered) Opportunity cost of attending college

Management Studies

Problem: Suppose that your tuition to attend college is $5,000 per year and you spend $1,000 per year on books, and $4000 on rent. If you were working full time instead,you could earn $20,000 per year, and would live at home, for free, with your mom. What is your opportunity cost of attending college for one year, in $? Explain your answers and provides examples.

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