Consider Larry's decision to go to college. If he goes to college, he will spend a total of $120,000 on tuition, $30,000 on room and board, and $3,500 on books over four years. If he does not go to college, he will earn $30,000 annually working in a store and spend $7,000 on room and board each year. Larry's cost of going to college is
a. $123,500.
b. $153,500.
c. $190,500
d. $245,500
d
You might also like to view...
Unlike a sole proprietorship, a corporation's shareholders
A) own the firm and directly manage it as well. B) own the firm but do not directly manage it. C) do not own the firm but directly manage it. D) do not own the firm and do not directly manage it.
The IS curve has a positive slope because a(n) __________ in the interest rate leads to a(n) __________ in desired investment and this leads to an increase in GDP
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Assuming that the two key restrictions on preferences fundamental to the median voter model hold, list the condition that must be satisfied for the outcome preferred by median voter to be considered economically efficient
List one real world example that comes close to this condition.
The increase in a firm's total revenues resulting from hiring an additional unit of labor is known as the marginal:
a. product. b. revenue product. c. cost. d. none of these.