Suppose that your tuition to attend college is $14,000 per year and you spend$5,000 per year on room and board. If you were working full time, you could earn$26.000 per year. What is your opportunity cost ofattending college? A)$19.000 B) $31.000 C)$40.000 D) $45.000
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- why Technical Writing is synonymous with effective communicationImagine a very talented young person who has just graduated from high school and has been offered a 4-year contract worth ten million dollars to play professional basketball for the LA Bakers, and has also received an offer of acceptance to UCLA with full fellowship. The fellowship covers her tuition, room, and board, along with a generous monthly stipend of 2500 dollars for living expenses for 4+1 years. Which of the following is true for this scenario? ( Remember: the cost of something is what you give up to get it!)A) The cost of the four years of college education for this person is very high, in the range of millions of dollars.B) The cost of the four-years of college education for this person is almost zero because of the generous fellowship and financial aid package she has received.C) The cost of the four years of college education for this is person is the sum of the tuition, room, and board expenses, plus the monthly stipend of 2500 dollars for 4 years.D) The rational choice…Explain all resources that economic relies on.
- What is the solution and its workking?S Assume you graduate from college with an accounting degree and take a job that pays $50,000 per year. You have an opportunity to enroll in a one-year full-time MBA program. Which of the following should NOT be included as the opportunity cost of attending the MBA program? the retirement benefits you will lose if you quit your job to pursue the MBA the cost of tuition and fees if you were to enroll in the MBA program O the $75,000 salary that you expect to earn after completing your MBA O the $50,000 salary that you could have earned if you kept your jobAs a farmer, you must decide how many times during the year you will plant a new crop. Also, you must decide how far apart to space the plants. Will diminishing returns be a factor in your decision making? If so, how will it affect your decisions?
- Eng. Economic book.Harry Homeowner pays $300 monthly on a mortgage in a community where identical houses rent for $800 per month. Harry could move back into his parents house and live rent free. What is the opportunity cost to Harry for each month he lives in the house he owns?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?