Question

Monica is going to college full-time to become a nurse, so she has to quit her job at the supermarket. Not having that weekly paycheck is considered a(n): *

Answer 1

Opportunity cost

Step-by-step explanation:

Opportunity cost is the sacrificed benefits in decision making. Making a decision involves selecting one option from several choices. The forfeited advantage from the next best alternative is the opportunity cost.

Monica has chosen to join college. She has sacrificed her job at the supermarket to make time for college. Her forfeited weekly pay from her job is the opportunity cost for joining college.