WAEC - Economics (2017 - No. 2)
the opportunity cost of a worker going to the university is
tuition, fees and books
boarding and lodging
the wages given up to attend the university
transportation and entertainment
Vysvetlenie
Opportunity cost is the value of the next best thing you give up whenever you make a decision. It is "the loss of potential gain from other alternatives when onealternative is chosen". it is simply the forgone alternative
If, for example, you spend time and money going to a movie, you cannot spend that time at home reading a book, and you can't spend the money on something else.