Larry Was Accepted at Three Different Graduate Schools, and Must

question 89

Multiple Choice

Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer Larry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year. Larry's opportunity cost of attending Elite U is:

• A)$70,000
• B)$50,000
• C)$20,000
• D)$15,000

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Definitions:

Refuse Act

A federal law aimed at protecting navigable waters in the United States by prohibiting the discharge of refuse into these waters without a permit.

Clean Water Act

A U.S. federal law aimed at reducing pollution and protecting the quality of waters.

Water Pollution

The contamination of water bodies such as lakes, rivers, oceans, and groundwater caused by harmful substances or heat, which degrades water quality and adversely affects aquatic ecosystems and human health.

Environmental Impact Statement

A document required for projects that may significantly affect the environment, detailing the potential impacts and mitigating strategies.