The Tuition Fee That Will Be Paid Next Semester by a College

question 56

Multiple Choice

The tuition fee that will be paid next semester by a college student who pursues a degree is a(n) :

• A)sunk cost.
• B)out-of-pocket cost.
• C)indirect cost.
• D)average cost.
• E)marginal cost.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Purchase

The action of buying goods or services.

Car

A car is a wheeled motor vehicle used for transportation, typically having four tires and powered by an internal combustion engine or electric motor.

Orange Crop

The yield of orange trees harvested in a particular area during a single growing season.