Graduation Versus Salary
A person named X is currently working in a company and drawing some salary. X is getting an option to do the graduation for 2 years, but for that, he/she must leave his/her job.
If he/she doesn’t go to graduation, the opportunity cost will be a higher degree plus the additional salary that he/she might get because of this degree. On the other hand, if he/she opts for the job, then the opportunity cost will be 2 years’ salary that has to be foregone.
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Opportunity cost examples that provide an outline of the most common Opportunity Cost.
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The idea is part of this collection:
Learn more about moneyandinvestments with this collection
The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
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