Question 1
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 (same as if not attending college), then your opportunity cost of attending college this semester is
◦ $22,000.
◦ $22,150.
◦ $28,750.
◦ $36,750.
Question 2
If you own a condo and you decide to lease it to your cousin
◦ there is no opportunity cost of leasing the condo because you own it.
◦ there is an opportunity cost of leasing the condo because you could have chosen to live in it.
◦ there is no opportunity cost of leasing the condo because you collect rent from your cousin.
◦ the only cost relevant to this decision is the price you paid for the condo.
