Timothy quits his job which pays $50400 a year, to enroll in a 4 year grad program. His annual school expenses are $50800 for tuition, $8000 for books and $3600 for food. What is the oppurtunity cost of attending graduate program? What core principles are considered in Timothy's decision making?
Timothy quits his job which pays $50400 a year, to enroll in a 4 year grad program. His annual school expenses are $50800 for tuition, $8000 for books and $3600 for food. What is the oppurtunity cost of attending graduate program? What core principles are considered in Timothy's decision making?
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter5: Buying The Necessities
Section: Chapter Questions
Problem 26AA
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Timothy quits his job which pays $50400 a year, to enroll in a 4 year grad program. His annual school expenses are $50800 for tuition, $8000 for books and $3600 for food. What is the oppurtunity cost of attending graduate program?
What core principles are considered in Timothy's decision making?
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