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Suppose your expenses for this term are as follows: tuition: $12,000 , room and board: $6,500 , books and other educational supplies: $1,500

Suppose your expenses for this term are as follows: tuition: $12,000, room and board:  $6,500, books and other educational supplies:  $1,500. Further, during the term, you can only work part-time and earn  $3,500 instead of your full-time salary of  $14,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college?


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