Suppose You Have a Choice of Going Full-Time to Summer

question 34

Multiple Choice

Suppose you have a choice of going full-time to summer school or going to school full-time and working part-time.Summer tuition and books are $2, 200.If you worked part-time, you could make $1, 000.Your rent is $1, 000 for the summer, regardless of your choice.The opportunity cost of going to summer school full-time and not working is, therefore,

• A)$1, 000
• B)$2, 000
• C)$3, 200
• D)$4, 200
• E)cannot be determined from information given

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Definitions:

Free-Riding

A phenomenon where individuals or entities benefit from resources, goods, or services without paying for the cost of the benefit.

Social Loafing

The phenomenon where individuals exert less effort when working in a group compared to when working alone, often due to perceived imbalances in contribution and accountability.

Free-Riding

The act of benefiting from the efforts of others without contributing one's fair share, often in the context of team or group work.

Invisible Barrier

An unseen obstacle or hindrance that prevents individuals or groups from advancing beyond a certain point, particularly in professional contexts.