Before you started applying for college, a job recruiter offered you a full-time cashier position at a department store, earning an after-tax salary of $23,000 per year. However, you turn down this offer and attend your first year of college. The additional monetary cost of college to you, including tuition, supplies, and additional housing expenses, is $35,000.

Question

Mercedes Bolton

Business

5 April, 07:25

Before you started applying for college, a job recruiter offered you a full-time cashier position at a department store, earning an after-tax salary of $23,000 per year. However, you turn down this offer and attend your first year of college. The additional monetary cost of college to you, including tuition, supplies, and additional housing expenses, is $35,000.

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Answers (1)

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Micheal Valentine · Answer 1

total perceived value of attending college is more than $58000

Explanation:

we have given that earning an after-tax salary of $23,000 per year

and cost of college to you = $35,000

as we know that here Opportunity cost is benefit foregone by choose one alternative over the another

so by economic decision making like choosing a job or going to college

we need to consider both explicit cost and Opportunity cost by job foregone

so i think attend the college

total value for attend college = $23,000 + $35,000 = $58000

because total perceived value of attending college is more than $58000