Suppose That You Could Live at Home at No Cost

question 34

Multiple Choice

Suppose that you could live at home at no cost to you if you worked, but must live on campus if you go to school.What is the total opportunity cost to you of going to school rather than working? (Food costs the same at school or home.)

• A)$16,200
• B)$7,200
• C)$5,200
• D)$15,200

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Definitions:

Logic

The systematic study of the principles of valid inference and correct reasoning.

Statistics

The science of collecting, analyzing, presenting, and interpreting data.

Basic Statistics

The foundational principles and techniques for collecting, analyzing, interpreting, and presenting data.

Totals

The sum amounts resulting from the addition of numbers, quantities, or items.