Suppose You Paid $400 Tuition for a Three-Credit Course

question 276

Multiple Choice

Suppose you paid $400 tuition for a three-credit course.After the official withdrawal date has elapsed, you decide to drop the course but you cannot get back your $400.At this time, the $400 is

• A) the benefit of earning three credits.
• B) an expenditure made on the margin.
• C) a sunk cost.
• D) the opportunity cost of the course.
• E) the marginal cost of the course.

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Definitions:

Susceptible

Likely to be influenced or harmed by a particular thing or condition due to vulnerability or lack of resistance.

Church Membership

The formal affiliation or association with a particular religious congregation or denomination.

Conversely Related

Indicates a situation where two variables move in opposite directions; as one increases, the other decreases, and vice versa.

Drift Away

To gradually become distant from someone or something, often referring to relationships or interests fading over time.