ECONOMICS
OPPORTUNITY COST
Question
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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 ____

$3, 300.


$6, 000


$4, 300


$10, 300

Explanation:
Detailed explanation1: The money earned by the person in the summer job is $6, 000. Now, to attend summer school, the person has to sacrifice the benefits of the job, which is a salary of $6000. Therefore, the monthly payment sacrificed for attending the summer school is the opportunity cost of the person.
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