i. John and Peter are form 3 students who are 14 years old and 15 years old respectively. After completing junior secondary schooling, they can choose to study in Form 4 or go out to work. Suppose two jobs are offered to them: (A) working as an office assistant with an age requirement of at least 14 years old, earning a monthly salary of $3,500; (B) working as a salesman with an age requirement of at least 15 years old, earning a monthly salary of $4,000.

(a) Find the opportunity cost to John and Peter respectively if they choose to continue their studies. Explain each case.

(b) Later, the firm offering the post of office assistant would like to increase the monthly salary to $4,200 so as to attract more applicants. What is the opportunity cost to Peter if he still chooses to continue his study?