Question

If your tuition is $5,000 this semester, your books cost $600, you can only work 20 rather than 40 hours per week during the 15 weeks you are taking classes at a job in which you make $15 per hour, and your room and board is $3,000 this semester (same as if not attending college). then your opportunity cost of attending college this semester is

Answer 1

Answer:

$10,100

Explanation:

Calculation for the opportunity cost of attending college this semester

Opportunity cost=$5,000 + $600 + (20*15weeks*$15per hour)

Opportunity cost=$5,000 + $600 + $4,500

Opportunity cost = $10,100

Therefore opportunity cost of attending college this semester is $10,100