Suppose Your Expenses for This Term Are as Follows: Tuition

Multiple Choice

Suppose your expenses for this term are as follows: tuition: $5,000,room and board: $3,000,books and other educational supplies: $500.Further,during the term,you can only work part-time and earn $4,000 instead of your full-time salary of $10,000.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?

A) $5,500
B) $8,500
C) $11,500
D) $14,500