Question

A student is considering adding a minor to her degree. The additional courses would cost $1,500 but would allow additional income upon graduation of $10,000. The incremental income related to this decision is:

Answer 1

Based on the additional income that the student will get at graduation and the cost of the courses, the incremental income here is $8,500.

What is the incremental income?

The is the additional income that we gain from pursuing a course of action, less the costs of that action.

In this case, the incremental income will be:

= Additional income - additional cost

= 10,000 - 1,500

= $8,500

In conclusion, the incremental income is $8,500.

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