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
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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?
