The rule for optimal human capital investment is that: the individual should increase years of education until the discounted present value of the benefits of an additional year of education equals the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of an additional year of education is less than the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of an additional year of education is greater than the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of all of the years of education equals the discounted present value of all of the associated costs.

The rule for optimal human capital investment is that: the individual should increase years of education until the discounted present value of the benefits of an additional year of education equals the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of an additional year of education is less than the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of an additional year of education is greater than the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of all of the years of education equals the discounted present value of all of the associated costs.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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