Continue with the information above, but suppose the college suddenly announces that course feesare refundable. Now, determine how many courses you will choose to attend:3 Fill in the BlanksType your answers in all of the blanks and submitSuppose you are a student at Blunter College in Fall 2021. You must decide how many courses toattend. Here is the relevant information about costs and benefits:The first course would give you a benefit worth 3000, the second course would give you a benefitworth 2300, the third course would give you a benefit worth 1500, and the fourth course would giveyou a benefit worth 500.For each course that you take, you give up 1000 in foregone income (the money you could haveearned during the time spend on a course).Each course is priced at 1500.Suppose you have already paid fully for four courses, and this payment is non-refundable. Usemarginal analysis to determine how many courses (0, 1, 2, 3, or 4) you actually decide to attend:

Since you have asked multiple questions, we will solve the first question for you. If you want any…

Answered: Continue with the information above,…

Continue with the information above, but suppose the college suddenly announces that course fees are refundable. Now, determine how many courses you will choose to attend:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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