Ifyour tuition is $20,000 this semester, your books cost $2,000, you can only work 10 rather than 40 hours perweek during the 15 weeks you are taking classes and you make $15 per hour, and your room and board is$8,000 this semester, then your opportunity cost of attending college this semester isa. $28,750.O b. $22,000.O c. $22,150.Od. $36,750. Which of the following is not a potential cause of an increase in the price of housing?Select one:The price of land increasesO b. An increase in consumer incomeO c. Cheaper methods of prefabricating homes are developedOd. An increase in populationOe. Construction workers' wage increase with no offsetting increase in productivity

Opportunity cost is the cost of the foregone next best alternative.

If your tuition is $20,000 this semester, your books cost $2,000, you can only work 10 rather than 40 hours per week during the 15 weeks you are taking classes and you make $15 per hour, and your room and board is $8,000 this semester, then your opportunity cost of attending college this semester is a. $28,750. Ob. $22,000. O c. $22,150. O d. $36,750.

If your tuition is $20,000 this semester, your books cost $2,000, you can only work 10 rather than 40 hours per week during the 15 weeks you are taking classes and you make $15 per hour, and your room and board is $8,000 this semester, then your opportunity cost of attending college this semester is a. $28,750. Ob. $22,000. O c. $22,150. O d. $36,750.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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