
S E3: Core Principle 2 - The Opportunity Cost Principle - Or What?
Think Like An Economist
How Much Will You Be Paying for Room, Board, Living Expenses?
The last year i worked, i made 39 thousand dollars after tax. I paid somewhere between 608 hundred in rent, probably a similar amount on food each month. Do you know how much you will be paying for room, board, living expenses? We're cain add to that what she won't be earning from her job, which is 39 thousand dollars in foregone income. That gives us a total of 54 thousand dollars. So her total opportunity cost for doing an mba for a year is 64 thousand Dollars plus any kind of incidental on off cost that she thinks she might face as she transitions to graduate school.
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