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Sliva [168]
3 years ago
15

You plan to go to school this summer. If you​ do, you​ won't be able to take your usual summer job that pays ​$4 comma 000 for t

he summer. The cost of tuition is ​$3 comma 000 and textbooks cost ​$300. You live with your​ family, which covers your living expenses of ​$1 comma 600. What is your opportunity cost of going to school this​ summer?
Business
1 answer:
alisha [4.7K]3 years ago
3 0

Answer:

Opportunity cost = $7,300

Explanation:

Given:

Summer job pay = $4,000

The cost of tuition fee = ​$3,000

Textbooks cost ​=- $300

Opportunity cost = ?

Computation of opportunity cost of going to school:

Opportunity cost = Summer job pay + The cost of tuition fee + Textbooks cost

Opportunity cost = $4,000 + $3,000 + $300

Opportunity cost = $7,300

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