Question 02: John Jay is a full time student at a local university. He wants to decide whether he should attend a four- week summer school session, where tuition is $325, or take a break and work full time at a local delicatessen, where he could make as much as $175 a week. How much would going to the summer school cost him from a decision making standpoint? Compute the opportunity cost in this case. [Max. Marks = 20] Solution