Question

amal works part-time earning $8,000 per year. He reduces his work hours by half so that he can go to school. Jamal completes his degree after 3 semesters (1.5 years) at a cost of $1,400 per semester in tuition and $500 per semester in books. What was Jamal's investment in getting his degree? a. $4,700 b. $5,700 c. $11,700 d. $17,700 Please select the best answer from the choices provided A B C D

Answer 1

Answer is C. $11,700

Step-by-step explanation:

I took the test and this is one I got wrong. it is C

Answer 2

d. $17,700

Step-by-step explanation:

considering accounting cost:

1,400 book per semester x 3 semester = 4,200

500 dollars of book x 3 semester = 1,500

Total explcit cost: 5,700

implicit cost (lost wages)

8,000 less 50% cost reduction = 4,000

then 4,000 per semester = 12,000

Total opportunity cost: 12,000

Total cost for the product 17,700