Which of the following are components of the opportunity cost of being a full time student who lives at home The things that the student would have bought with A higher income Expenditure on tuition A subscription to the Rolling Stone magazine The income a student will earn after graduating ...

A higher income The items the student would have purchased with the higher income he or sh ...

Which of the following are components of the opportunity cost of being a full-time student who lives

Question:

Which of the following are components of the opportunity cost of being a full-time student who lives at home?

The things that the student would have bought with:

A higher income
Expenditure on tuition
A subscription to the Rolling Stone magazine
The income a student will earn after graduating

Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...