3. Suppose you currently earn $80,000 a year. You are considering a job that will increase your lifetime earnings by $400,000 but that requires an MBA. The job will mean also attending business school full time for two years at an annual cost of $70,000. You already have a bachelor’s degree, for which you spent $150,000 in tuition and books. a. Which of the above information is relevant to your decision on whether to take the job? b. What is the opportunity cost of going to school to study MBA? c. Should you take the job? [Note: You will need to get the MBA]

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