Answer to Question #50566 in Economics of Enterprise for Christoph Liquor

Question

Is the following statement true or false? Explain your reasoning. “I am attending college on a full athletic scholarship, so the opportunity cost of attending college is zero for me.”

Answer 1

The following statement is false. It is necessary to note that all our choices have an opportunity cost and it is no different whether you are attending college on a full athletic scholarship or not. For example the opportunity cost of attending college on a full athletic scholarship is the lost chance to play in the NBA.