1) Cynthia is deciding whether to get a one-year MBA. She currently works as a management consultant and earns $150,000 a year. The MBA program costs $40,000 for the year, plus she has to pay for room and board in Chicago, which costs $30,000 for the year. What is the totalmarginal costof the one-year MBA for Cynthia?

2) yes or no

Cynthia from the previous question researches past graduates of the program and calculates that after the MBA, their total income over their entire career is higher by $200,000becauseof the MBA. That is, the marginal benefit to her of getting the MBA is an additional $200,000. According to our simple model of the choice of schooling discussed in class, should she get an MBA?

3) Duflo and Bannerjee estimate theMincerian returnto schooling in Guatemala to be 14.9. This means that an additional year of schooling is associated with [ Select ]["1.49", "14.9", "0.149"][ Select ] ["percent", "percentage points", "dollars"] higher wages in Guatemala.