John is deciding whether to go to college. He knows that if he goes, he will have to quit his $15,000 a year job. He needs to know what is the true cost of attending his first year of college. John's expenses of going to college of college tuition are: $10,000 ( $7000 tuition, $1000 for books, and $2000, for extra transportation costs.) John could have invested the $10,000 he spent on his tuition at a yearly interest rate is 10%. How would an economist would calculate the cost of of going to college for one year.
John is deciding whether to go to college. He knows that if he goes, he will have to quit his $15,000 a year job. He needs to know what is the true cost of attending his first year of college. John's expenses of going to college of college tuition are: $10,000 ( $7000 tuition, $1000 for books, and $2000, for extra transportation costs.) John could have invested the $10,000 he spent on his tuition at a yearly interest rate is 10%. How would an economist would calculate the cost of of going to college for one year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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John is deciding whether to go to college. He knows that if he goes, he will have to quit his $15,000 a year job. He needs to know what is the true cost of attending his first year of college. John's expenses of going to college of college tuition are: $10,000 ( $7000 tuition, $1000 for books, and $2000, for extra transportation costs.) John could have invested the $10,000 he spent on his tuition at a yearly interest rate is 10%.
How would an economist would calculate the cost of of going to college for one year.
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