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Vinil7 [7]
3 years ago
12

Michelle just graduated from high school and is considering attending college. She estimates that college tuition and books will

cost approximately $4,767 per semester. Alternatively, if Michelle doesn't go to college, she could earn $8 per hour working as a store clerk. Add implicit and explicit costs to determine Michelle's total economic cost of attending college during one semester. Assume a semester has 1,000 work hours. What is Michelle's total economic cost of attending college during one semester (round your response to the nearest dollar)?
Business
1 answer:
vovangra [49]3 years ago
7 0

Answer:

$12,767

Explanation:

The explicit costs of Michelle attending college is given as $4,767

The implicit costs of Michelle attending college is the opportunity cost of not working as a store clerk which means that money cannot be earned and will more or less be wasted because she is going to college: That cost is given as $8 * 1000 hours which is $8000 per semester.

Michelle's total economic cost of attending college during one semester is $12,767.

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6. After you determine the costs of doing the research, what should be your next decision?
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Explanation:

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3 0
3 years ago
What does a good business plan contain?​<br><br>helppppp pls
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8 0
3 years ago
Take It All Away has a cost of equity of 11.17 percent, a pretax cost of debt of 5.32 percent, and a tax rate of 40 percent. The
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Answer:

WACC=(Ke*E+D*Kd)/(E+D)

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Ke (Cost of Equtiy)=11.17%

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D(Market Value of Debt)=65

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WACC=(16.2+3.5)/(210)

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