2b (I) Timothy quits his job, which pays him $96600 a year to enroll in a 4 years graduate program. His annual school expenses are $52000 for tuition, $6000 for books and $2500 for food. What is his opportunity cost for attending the graduate program? 2b(ii) What core principles are considered in Timothy’s decision making?
2b (I) Timothy quits his job, which pays him $96600 a year to enroll in a 4 years graduate program. His annual school expenses are $52000 for tuition, $6000 for books and $2500 for food. What is his opportunity cost for attending the graduate program? 2b(ii) What core principles are considered in Timothy’s decision making?
Chapter3: Economic Decision Makers
Section: Chapter Questions
Problem 1.4P
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2b (I)
Timothy quits his job, which pays him $96600 a year to enroll in a 4 years graduate program. His annual school expenses are $52000 for tuition, $6000 for books and $2500 for food.
What is his
2b(ii)
What core principles are considered in Timothy’s decision making?
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