Suppose You Have a Choice of Working Full-Time During the Summer

question 123

Multiple Choice

Suppose you have a choice of working full-time during the summer or going full-time to summer school.Summer tuition and books are $2,200.If you worked,you could make $7,000.Your rent is $1,000 for the summer,regardless of your choice.If these are the only relevant costs to consider,the opportunity cost of going to summer school is:​

• A)$2,200.
• B)$7,000.
• C)$8,000.
• D)$9,200.
• E)$10,200.

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Definitions:

Cultural Products

Cultural Products include items and services that reflect the cultural expressions, beliefs, and values of a society, such as art, music, literature, and rituals.

Perceptions Of National Character

Beliefs or stereotypes about the typical characteristics, behaviors, and traits of the people in a particular nation.

Reference-Group Effects

The influence of perceived group norms and values on an individual's behavior, attitudes, and perceptions.

Social Norms

Unwritten rules or standards of behavior that are considered acceptable in a group or society.