Econ question?

 Jonathan is currently working for a clothing company and earning $20,000 per year. In hopes of raising his future income he is considering quitting his job and returning to school to get his degree. He estimates that tuition and textbooks would cost $4,000/year while all other living expenses would be $8,000/year. Jonathan thus calculates his costs for the first year of college to be $12,000. Was he correct? If not, what is the total cost for this first year?

1 Answer

Relevance
  • 3 weeks ago

    $32,000, While his expenses will be $12,000, his COST will be $32,000 because he will be giving up the $20.000 he would have made if he had worked instead.

Still have questions? Get answers by asking now.