Here are the costs of going to college: tuition $5,000; books $200; housing $1,000; food $1,000; lost income from work $10,000. Studying and work are equally desirable in your mind. Suppose that you could work part-time and make $5,000 at a job you would volunteer to do. You live on campus instead of at home. What is the cost of going to school?

Question

Quizplus · Accepted Answer

The total cost of going to school includes tuition, books, housing, food, and the opportunity cost of not working full-time. The opportunity cost is the difference between what you could earn working full-time ($10,000) and what you earn working part-time ($5,000), which is $5,000. Adding up all the costs: $5,000 (tuition) + $200 (books) + $1,000 (housing) + $1,000 (food) + $5,000 (lost income) = $12,200. However, the correct calculation should be $5,000 (tuition) + $200 (books) + $1,000 (housing) + $1,000 (food) + $5,000 (lost income from not working full-time) = $12,200, indicating a mistake in my explanation regarding the final total. The correct approach to calculate the total cost indeed involves adding all these elements, but the correct total should align with one of the provided options, considering any potential oversight in the arithmetic or the interpretation of the costs involved.

Here Are the Costs of Going to College: Tuition $5,000;