Answer:
$ 56,500
Explanation:
Given:
Tuition expenses = $ 28,000
Room and board expenses = $ 2,500
Earning from the part time = $ 16,000
Fulltime salary = $ 42,000
Now,
the opportunity cost is given as:
= Full time working salary + (sum of expenses) - Earnings
on substituting the values, we get
opportunity cost = $ 42,000 + ( $ 28,000 + $ 2,500 ) - $ 16,000
or
opportunity cost = $ 56,500
