An Economic Explanation as to Why Individuals Such as Bill

question 58

Multiple Choice

An economic explanation as to why individuals such as Bill Gates and LeBron James don't finish college is that:

• A) the sunk cost of college is very high for them.
• B) the opportunity cost of college is very high for them.
• C) the benefits of additional college exceed the costs of additional college for them.
• D) the decision not to finish college is irrational.

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Definitions:

Service Business

A business that provides intangible products or services to customers, as opposed to selling physical, tangible goods.

Large Businesses

Enterprises or corporations that operate on a large scale in terms of revenue, employees, and market impact, often influencing their industry or sector significantly.

Corporation

A legal entity distinct from its owners, with its own rights, privileges, and liabilities.

Owned

Referring to assets or properties that are legally possessed by an individual or entity.