Figure 1.3

-Nicky makes $25,000 a year as a sales clerk. He then decides to quit his job to enter a MBA program full-time (assume Nicky doesn't work in the summer or hold any part-time jobs). His tuition, books, living expenses, and fees total $15,000 a year. Given this information, the annual total cost of Nicky's MBA studies is:

Question

Figure 1.3
 
-Nicky makes $25,000 a year as a sales clerk. He then decides to quit his job to enter a MBA program full-time (assume Nicky doesn't work in the summer or hold any part-time jobs). His tuition, books, living expenses, and fees total $15,000 a year. Given this information, the annual total cost of Nicky's MBA studies is:

Quizplus · Accepted Answer

The total cost includes both the direct costs of the MBA program ($15,000) and the opportunity cost of lost income ($25,000), totaling $40,000.

Figure 1.3 -Nicky Makes $25,000 a Year as a Sales Clerk. He