Suppose Your Expenses for This Term Are as Follows: Tuition

question 190

Multiple Choice

Suppose your expenses for this term are as follows: tuition: $28,000, room and board: $9,000, books and other educational supplies: $2,500.Further, during the term, you can only work part-time and earn $16,000 instead of your full-time salary of $42,000.What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college?

• A)$36,500
• B)$56,500
• C)$65,500
• D)$72,500

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Definitions:

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