Suppose Amin Has a Job That Pays Him $87 000

question 1

Multiple Choice

Suppose Amin has a job that pays him $87 000 per year (after taxes) .He is considering taking an unpaid leave of absence from his job to complete a 12-month MBA program.Tuition is $75 000 and books and materials will cost $5000.Living expenses for the 12-month period will be cheaper by $500 per month,mostly due to lower apartment rental costs.What is the opportunity cost of Amin's 1-year MBA program?

• A)$75 000
• B)$76 000
• C)$161 000
• D)$167 000
• E)$175 000

---

Definitions:

Geodemographic

The study of populations and their characteristics, such as age, gender, and income, in specific geographic areas for market segmentation purposes.

Psychographic

Pertaining to the study of consumer lifestyles, attitudes, beliefs, and values to understand buying behaviors and preferences.

Occasion Segmentation

A type of behavioral segmentation based on when a product or service is purchased or consumed.

Psychographic Segmentation

The division of a market into segments based on consumer personality traits, values, attitudes, interests, and lifestyles.