Question
Fazil is trying to decide if he should attend university or not. Suppose that he will be taking night classes at 7:00pm till 10:00pm, so
Fazil is trying to decide if he should attend university or not. Suppose that he will be taking night classes at 7:00pm till 10:00pm, so he will not have to go to work. However, he will have to give up his free salsa dance lessons that he would have taken during that time. He will have to take the bus, which will cost him $1.5 a day, 7 a days a week in transit passes for 3 months he needs to attend classes. To go to salsa dance lessons, he would have had take the bus as well (for the same cost). To go to school, he will need books that will cost him $250, tuition that will cost him $5000 and he will also have to buy dinner which will cost $1 less compared to his usual evening meal at salsa lessons . He has decided to go to school and pay for the semester of classes, but he wants to skip the first 3 classes and take dance lessons instead. What is his opportunity cost of skipping the first 3 classes?
**in your answer use money only, we will assume that we already know that he will miss out on the very important information from the first 3 classes so do not include this in your answer**
Answer:
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