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11Alexandr11 [23.1K]
4 years ago
5

Suppose your expenses for this term are as​ follows: tuition:​ $12,000, room and​ board: $6,500, books and other educational​ su

pplies: $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?
Business
1 answer:
kiruha [24]4 years ago
5 0

Answer:

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 is $24,000.

Explanation:

Opportunity cost = income forgone + tuition + books- income earned

                            = $14000 + $12000 + $1500 - $3500

                             = $24000

Therefore, 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 is $24,000.

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Answer:

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and,

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