Suppose you are a star basketball player at a major university in your sophomore year. You are sought after by several NBA teams. Which of the following choices best characterizes your opportunity cost if you choose to drop out of college and enter the NBA?

The value of your college scholarship that you have given up. The skills that two more years of playing at your college would have given you along with their additional value over the rest of your life, in addition to the educational value of the college degree. The total of explicit costs that have been incurred in the past. The total of implicit costs that have been incurred in the past.