Which of the Following Is NOT an Example of the Opportunity

question 327

Multiple Choice

Which of the following is NOT an example of the opportunity cost of investing in human capital?

• A) lost wages while in school
• B) lost wages while in on-the-job training
• C) tuition payments
• D) apartment rent while working and going to school part-time

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Definitions:

Fixed Cost

An expense that does not change with an increase or decrease in the number of goods or services produced or sold.

Electricity

A form of energy resulting from the existence of charged particles, used as a power source.

Least-squares Regression

This is a statistical method used to determine a line of best fit by minimizing the sum of squares of the distances of data points from the line.

Warranty Costs

Expenses associated with repairing or replacing products under warranty, recognized as part of product support costs.