Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Connect with a community of experts ready to help you find solutions to your questions quickly and accurately. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

Blake chose to go to college instead of starting a full-time career after high school. he sacrificed four years of wages while obtaining his degree. what is the term used to identify the cost of his choice?

Sagot :

jaquelinefvr

The term opportunity cost is used to designate the cost of Blake's choice.

What is opportunity cost?

It is an economic term to represent a value placed on an opportunity given up when a choice is made. That is, opportunity cost represents the value of one choice over another.

So Blake's choice to go to college rather than start a full-time career after high school comes with an opportunity cost.

Find out more about opportunity cost here:

https://brainly.com/question/1549591

#SPJ1

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.