Question
Suppose a person has a choice of being either a full-time worker or being a full-time college student. If the person chooses to be a
Suppose a person has a choice of being either a full-time worker or being a full-time college student. If the person chooses to be a full-time worker, they will only work (they will not attend college at all while they are working). If the person chooses to be a full-time student, they will only be a student (they will not work at a job at all while they are in college). For each of the following, state whether it IS or IS NOT part of the opportunity cost of being a full-time college student instead of working full-time at a job. Then, for each, explain why it is or is not part of the opportunity cost of being a full-time college student instead of working full-time at a job. Your explanations should demonstrate good understanding of what "opportunity cost" means.You must clearly label the parts of your answer as a, b, c, and d. Answers not labeled as such will receive 0 credit.
a. payments for meals
b. payments for tuition
c. payments for books
d. income from the full-time job
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