SOLUTION: Suppose another year of college will increase your lifetime earnings by about $30,000. The costs of tuition and book costs add up to only $8,000 for an additional year. Comment o

Question 176390: Suppose another year of college will increase your lifetime earnings by about $30,000. The costs of tuition and book costs add up to only $8,000 for an additional year. Comment on the following statement: �Because the benefit of $30,000 exceeds the $8,000 cost, you should complete another year of college.� In addition to your comment, What economic principle are you using as a reference in responding to this question?

Answer by EMStelley(208) (Show Source): You can put this solution on YOUR website!
Think about inflation!
RELATED QUESTIONS
Problem: Shenequa has narrowed her choice for which college to attend. She is most... (answered by Fombitz)

The cost of attending college has been rising at an average increase of 7% for the past... (answered by Mathtut)

The table lists the average annual cost of tuition and fees at private 4-year colleges... (answered by greenestamps)

In state tuition at a local college was $3619 last year. This year the tuition will be... (answered by Boreal)

3. The yearly cost T, in thousands of dollars, of tuition and required fees at a private... (answered by stanbon)

MAT: Topics in Contemporary Math Loans 4) How much does college really cost?... (answered by math_tutor2020)

during one year,the cost of tuition,room,and board at a state university increased 5%.if... (answered by solver91311)

College Costs The mean undergraduate cost for tuition, fees, room, and board for... (answered by Boreal)

Suppose a movie tickect costs about $7, and infalation causes ticket prices to increase... (answered by stanbon)