Is the opportunity cost of attending high school the same for all high school students?

Is the opportunity cost of attending high school the same for all high school students?

Is the opportunity cost of attending high school the same for all high school students? No, it is not the same for all students. This is because different students come from different backgrounds. As a result the alternative use of their time can be different.

What are the opportunity costs of attending college?

In short, the opportunity cost of attending college is the cost of tuition, any associated costs, and any income, experience, and pleasure you miss out on because you choose to attend college.

Which of the following best measures the opportunity cost for a student of attending college this year?

The opportunity cost of attending college for one year is best measured by the: benefit received by the student.

What is opportunity cost in economics of education?

An opportunity cost is defined as the value of a forgone activity or alternative when another item or activity is chosen. For example, to define the costs of a college education, a student would probably include such costs as tuition, housing, and books.

What does it mean to have lower opportunity cost?

A high opportunity cost is the amount of assets you will not have gained if you went a certain direction with your business or your investments. If your opportunity cost is low, that means you didn’t miss out on very much.

Why is lower opportunity cost?

A lower opportunity cost creates a comparative advantage in production. An absolute advantage means the ability to produce more of all goods. Diminishing marginal returns implies that the more of a good that a person produces, the higher is the cost (in terms of the good given up).

Is it better to have higher or lower opportunity cost?

Comparative advantage is an economy’s ability to produce a particular good or service at a lower opportunity cost than its trading partners. A comparative advantage gives a company the ability to sell goods and services at a lower price than its competitors and realize stronger sales margins.

What is the relationship between PPF and opportunity cost?

In the context of a PPF, opportunity cost is directly related to the shape of the curve (see below). If the shape of the PPF curve is a straight-line, the opportunity cost is constant as production of different goods is changing. But, opportunity cost usually will vary depending on the start and end points.