A. tuition, fees, and books
B. boarding and lodging
C. the wages are given up to attend the university
D. transportation and entertainment
Correct Answer: Option C
C. the wages are given up to attend the university
Explanation
Opportunity cost is the value of the next best thing you give up whenever you make a decision. It is “the loss of potential gain from other alternatives when one alternative is chosen”. it is simply the forgone alternative
If, for example, you spend time and money going to a movie, you cannot spend that time at home reading a book, and you can’t spend the money on something else.
