Suppose that a year of college has the following explicit costs: $17000 in tuition, $1000 in books and supplies, and $1500 for a computer. A year of college also has the following implicit cost: $35000 of foregone salary. A rational person would attend one year of college if the additional income and improved quality of life were worth how much

A rational person would attend one year of college if the additional income and the improved quality of life were worth more than the cost of attending college for the year or more than $19,500

Explanation:

The given parameters are;

The tuition cost for a year of college = $17,000

The cost of books and supplies = $1,000

The cost for a computer = $1,500

The amount of forgone salary = $35,000

Therefore, the total cost for a year of college = $17,000 + $1,000 + $1,500 + $35,000 = $54,500

However, the amount by which a year in college exceeds the previous income = The cost of going to college  $17,000 + $1,000 + $1,500 = $19,500

Therefore, a rational person would attend one year of college if the additional or extra income above the previous income and the improved quality of life were worth more than the cost of going to college for one year which is $19,500.

in terms of experimental research, mcdonald’s charging different prices in the two cities relates to

answer; because many corporate watch groups will discover and publicize unethical behavior by suppliers, link it to the american company, and harm its reputation;