After Earning Your BA, You Have to Decide Whether to Take

question 83

Multiple Choice

After earning your BA, you have to decide whether to take a job that will pay you $45,000 per year or spend an additional two years earning an MBA. If you decide to pursue the graduate degree, your annual expenses for tuition, books, board, and lodging will be $32,000. You have been offered a scholarship for $10,000 per year, but to pay the remaining $22,000 per year, you would have to cash in savings bonds from your grandparents that have been earning $500 in interest per year. The annual opportunity cost of earning your MBA is:

• A) $67,500.
• B) $77,000.
• C) $99,000.
• D) $77,500.

Recognize the significance of contestable markets and the effects of potential competition.

Comprehend the importance of well-defined property rights and their impact on resource allocation.

Understand the implications of economic losses and profits on firm behavior and market structure in the long term.

Grasp the role of entrepreneurship and entrepreneurial judgment in business decisions.

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Definitions:

Mania

A state of abnormally elevated or irritable mood, arousal, and/or energy levels, often seen in bipolar disorder, that can impair functioning.

Sociocultural Factors

Elements that influence an individual's behavior and attitudes based on the culture and society in which they live.

Cognitive Factors

Elements related to mental processes such as perception, memory, and problem-solving that influence behavior and emotion.

Biological Factors

Elements within an organism's genetic makeup or physiology that influence its behavior, health, and development.