Suppose Your Expenses for This Term Are as Follows: Tuition

question 69

Multiple Choice

Suppose your expenses for this term are as follows: tuition: $12,000, room and board: $6,500, books and other educational supplies: $1,500.Further, during the term, you can only work part-time and earn $3,500 instead of your full-time salary of $14,000.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)$13,500
• B)$20,000
• C)$24,000
• D)$30,500