Suppose your expenses for this term are as follows: tuition: $14,000, room and board: $8,000, books and other educational supplies: $2,000. Further, during the term, you can only work part-time and earn $4,000 instead of your full-time salary of $18,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college?.
