Question

A(n) _____ example is choosing to get a job right out of high school instead of going to college.

fixed cost

opportunity cost

variable cost

none of the above

Answer 1

none of the above

Step-by-step explanation:

• Fixed costs describe business expenses that remain constant throughout a financial period. They are costs that are not influenced by the level of productions.
• Opportunity cost refers to the forfeited benefits of choosing one option over the others. It is calculated as the cost of the next best alternative.
• Variable costs are business costs that vary with the production level. An increase in output increases the variable costs, while a decrease in production means lower variable costs.

An apprenticeship is an example of choosing to get a job right out of high school instead of going to college.