Economics 0455 · IGCSE · Opportunity cost

Opportunity cost — practice question

A student chooses to begin a two-year apprenticeship that pays $\$10\,000$ each year. Once this ends, she expects to receive $\$25\,000$ per year. Instead of doing the apprenticeship, she could take an unskilled job that pays $\$16\,000$ per year. What is the opportunity cost over the two years spent completing the apprenticeship?

  • A$\$10\,000$
  • B$\$12\,000$
  • C$\$25\,000$
  • D$\$32\,000$

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