Bob remains in college for his senior year so he can graduate instead of starting hisbusiness one year early. Bob's opportunity cost of remaining in college isO the amount paid for tuition and books plus the amount he would have earned by starting hisbusiness.O the amount he paid for tuition and books during the year.O the amount he would have earned by starting his businessO the amount paid for tuition, books, food, and housing during the year.« PreviousNext »ASUS47EGOf957RCO

Opportunity cost is the loss of potential gain from other alternatives when one particular…

Answered: y. Bob's opportunity cost of remaining…

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y. Bob's opportunity cost of remaining in college is

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 19RQ: What do economists mean when they refer to improvements in technology?

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Question

Bob remains in college for his senior year so he can graduate instead of starting his
business one year early. Bob's opportunity cost of remaining in college is
O the amount paid for tuition and books plus the amount he would have earned by starting his
business.
O the amount he paid for tuition and books during the year.
O the amount he would have earned by starting his business
O the amount paid for tuition, books, food, and housing during the year.
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