Microeconomics: Principles & Policy
14th Edition
ISBN: 9781337794992
Author: William J. Baumol, Alan S. Blinder, John L. Solow
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 3DQ
To determine
The things that will change in life when a person leaves college and the
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What is the opportunity cost of going to college?
What is the opportunity cost of your MBA education? How does the opportunity cost to you change if you can benefit from a generous federally sponsored tuition grant?
attending summer school cost 2,200. If you worked, you could earn 7,000. What is the opportunity cost?
Chapter 3 Solutions
Microeconomics: Principles & Policy
Knowledge Booster
Similar questions
- What is the opportunity cost of working on the weekends?arrow_forwardYou have been going to school and working 10 hours a week. The school offers you a scholarship worth $1,500 per quarter because of your excellent performance. In order to get the scholarship, you have to go to school full time, which means you would have to quit your job. What is your opportunity cost if you make $10 per hour? (Answer in terms of both time and money. If you get paid $10 an hour and a quarter lasts 11 weeks what would you choose? Why?arrow_forwardYou have been going to school and working 10 hours a week. The school offers you a scholarship worth $1,500 per quarter because of your excellent performance. In order to get the scholarship, you have to go to school full time, which means you would have to quit your job. What is your opportunity cost if you make $10 per hour? (Answer in terms of both time and money.) If you get paid $10 an hour and a quarter lasts 11 weeks what would you choose? Why? Your work offers you $15 an hour in order to prevent you from quitting. What would you choose? Why?arrow_forward
- The opportunity cost of any decision that you make involves giving up something. I would like you to evaluate your opportunity cost of taking this course at Kean University. What opportunities may be afforded to you after completed your educational endeavor at KU? What will you have to give up now to accomplish you short and long-term goals?arrow_forwardIn what ways are “creative ideas” more/less important than technical ability?arrow_forwardWhy is Entrepreneurship is very important in our economy?arrow_forward
- How would scenarios A and B affect the opportunity cost of going to college versus going to work immediately after high school? In which scenario is the opportunity cost of going to college higher? Why?arrow_forwardIdentify three categories of opportunity costs that you will incur for getting a university degree.arrow_forwardWhy we study economicsarrow_forward
- How do you think the impact of technology in economics is changing the choices for future careers? Evaluate the impact of technology in your own future career choice.arrow_forwardYou win $100 in a basketball pool. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 percent interest. What is the opportunity cost of spending the $100 now?arrow_forwardGive two examples of opportunity one can face todayarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Microeconomics: Principles & PolicyEconomicsISBN:9781337794992Author:William J. Baumol, Alan S. Blinder, John L. SolowPublisher:Cengage Learning
Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Microeconomics: Principles & Policy
Economics
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co