University students sometimes work during their holidays for private firms or the government in areas relating to their chosen careers. Many of these positions are menial and pay little.

a What is the opportunity cost of taking such a job?

b Explain why students are willing to take these low-paying jobs.

c If you were to compare the earnings later in life of workers who as students had worked at menial jobs in the industry that interested them and those who had taken holiday jobs that paid more, what would you expect to find?