The Table Below Shows Hypothetical Tuition Costs at a Canadian

question 63

Multiple Choice

The table below shows hypothetical tuition costs at a Canadian university.
TABLE 2-1
-Refer to Table 2-1.The increase in tuition fees from 2012 to 2016 is

• A)200.
• B)100/5000.
• C)4%.
• D)0.04%.
• E)200/5200.

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Definitions:

Opportunity Cost

The expense incurred from skipping the next most favorable choice when a decision is made.

Tuition Expenses

Tuition expenses are the fees charged for instruction and training, typically at educational institutions such as colleges or universities.

Opportunity Cost

Opportunity cost refers to the value of the best alternative forgone when a decision is made to pursue a certain action.

Go to College

Refers to the process where individuals enroll and attend an institution of higher education, often to pursue a degree or additional training.