QUESTION 1 Imagine you are faced with 2 choices upon graduation. Go to university or get a job. Going to university will cost you $4000 a year, but will get you a salary of $550. If you choose not to go to University and start on your career, you will get an annual salary of $6666. Calculate the opportunity cost of (i) going to University and (ii) not going to University. Remember, opportunity cost is about what you have to give up when take an option. QUESTION 1a But of course the thing is, that's not the only 2 options. You could also decide to study part time. And this gives you a third option of studying and working part time. Now, calculate the opportunity cost of (i) going to University, (ii) not going to University and (iii) Part time study/work. QUESTION 1b Based on opportunity cost you have calculated alone. What should you choose