Sharon is currently a full-time MBA student at business college. This semester, her tuition and fee sum up to $6,000, her MBA course books and materials cost her $500, her housing rental and living expenses around campus are totaled $5,000. While taking her courses, she can't work (full time) for her job which pays $8,000, ceteris paribus. a. What is Sharon's opportunity cost? b. What does ceteris paribus mean?

Sharon is currently a full-time MBA student at business college. This semester, her tuition and fee sum up to $6,000, her MBA course books and materials cost her $500, her housing rental and living expenses around campus are totaled $5,000. While taking her courses, she can't work (full time) for her job which pays $8,000, ceteris paribus. a. What is Sharon's opportunity cost? b. What does ceteris paribus mean?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter2: Scarcity And Opportunity Costs

Section: Chapter Questions

Problem 14E

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