Simplify. -

question 31

Multiple Choice

Simplify.
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Definitions:

Forgone Income

Potential earnings not received by choosing one alternative over another, often considered in opportunity cost calculations.

Tuition

The fee charged by educational institutions for instruction and training, typically assessed per term or per course.

Cost of Housing

The total expenses associated with acquiring and living in a home, including purchase price, rent, maintenance, and utilities.

Forgone Income

Income that is lost when an individual chooses not to engage in a certain activity or job, representing an opportunity cost.