uppose it is October 1. You have paid $15,000 in tuition and have been attending college classes. However, you are offered a full-time job paying $20,000 for the next two months. If you take the job, you'll have to stop attending classes and withdraw from college for the semester. Unfortunately, at this point in the semester, tuition is no longer refundable. You must decide whether to remain enrolled in college. What is the relevant cost of staying in school? When deciding whether to remain in school, the relevant cost of staying in school is $nothing.
uppose it is October 1. You have paid $15,000 in tuition and have been attending college classes. However, you are offered a full-time job paying $20,000 for the next two months. If you take the job, you'll have to stop attending classes and withdraw from college for the semester. Unfortunately, at this point in the semester, tuition is no longer refundable. You must decide whether to remain enrolled in college. What is the relevant cost of staying in school? When deciding whether to remain in school, the relevant cost of staying in school is $nothing.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 22CTQ: You just got a job in Washington, D.C. You move into an apartment with some acquaintances. All your...
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Concept: Ignore Sunk Costs 2
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Suppose it is October 1. You have paid
$15,000
in tuition and have been attending college classes. However, you are offered a full-time job paying
$20,000
for the next two months. If you take the job, you'll have to stop attending classes and withdraw from college for the semester. Unfortunately, at this point in the semester, tuition is no longer refundable.You must decide whether to remain enrolled in college. What is the relevant cost of staying in school?
When deciding whether to remain in school, the relevant cost of staying in school is
$nothing.
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