Andrea invests $20,000 in tuition fees for her three years of college education. Had she worked those three years, she could have earned a total of $8,000 . Identify the correct statement from the following
a. The opportunity cost of her college education is $20,000.
b. The investment cost of college consists of $20,000.
c. The investment cost of her college degree is $28,000.
d. The opportunity cost of her college education is $28,000.
C
Economics
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Draw a graph to illustrate the effect of higher gasoline prices on the demand for large SUVs. What is the relationship between gasoline and SUVs?
What will be an ideal response?
Economics
The fact that at the competitive equilibrium nobody can be made better off without making someone else worse off implies that
A) the equilibrium is Pareto efficient. B) the equilibrium is not Pareto efficient. C) the prices need to adjust further. D) further gains from trade are possible.
Economics