Susan Sneed gave up her $55,000 job at ACC, Inc to return to college to change careers. She reduced her wardrobe to cheaper jeans and t-shirts, paid $5,000 in tuition, continued to make her family's $1,200 per month home mortgage payments, and bore the burden of a variety of inane comments about the stupidity of older students giving up good paying jobs to return to school. Which of the above
items is not needed to determine the opportunity cost of her return to college?
a. her $55,000 ACC, Inc. salary
b. the altered wardrobe costs
c. the $5,000 tuition expense
d. her family's $1,200 per month mortgage expense
e. psychological stress from inane comments
D
Economics
You might also like to view...
In the ISLM framework, a rising price level causes
A) the equilibrium interest rate to rise. B) the equilibrium level of income to fall. C) desired saving to rise. D) the LM curve to shift to the right.
Economics
Assuming a homogeneous product, the Bertrand equilibrium price is
A) independent of the number of firms. B) independent of the firm's marginal costs. C) equal to the Cournot equilibrium price. D) equal to the monopoly price.
Economics