Timothy quits his job which pays $65 900 a year to enrol in a 2-year graduate program. His annual school expenses are $62 600 for tuition, $8400 for books and $3500 for food. What is the opportunity cost of attending the graduate program?
Timothy quits his job which pays $65 900 a year to enrol in a 2-year graduate program. His annual school expenses are $62 600 for tuition, $8400 for books and $3500 for food. What is the opportunity cost of attending the graduate program?
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter3: The Fundamental Economic Problem: Scarcity And Choice
Section: Chapter Questions
Problem 3DQ
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Timothy quits his job which pays $65 900 a year to enrol in a 2-year graduate program. His annual school expenses are $62 600 for tuition, $8400 for books and $3500 for food.
What is the
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