Author Question: If you own a building and you decide to use that building to open a book store (Read 298 times)

charchew · **on:** Apr 19, 2019

Question 1

If your tuition is $25,000 this semester, your books cost $1,500, you can only work 20 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 $7,500 this semester (same as if not attending college), then your opportunity cost of attending college this semester is

◦ $26,500.
◦ $26,800.
◦ $31,000.
◦ $38,500.

Question 2

If you own a building and you decide to use that building to open a book store

◦ there is no opportunity cost of using this building for a book store because you own it.
◦ there is an opportunity cost of using this building for a book store because it could have been used in other ways.
◦ the opportunity costs equal the cost of inventory.
◦ the only cost relevant to this decision is the price you paid for the building.

missalyssa26 · **Reply #1 on:** Apr 19, 2019

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