Answer to Question #214023 in Microeconomics for Ali

Question #214023

Estimate the monthly cost of your education in first semester in the university keeping both the explicit and implicit cost in view?


1
Expert's answer
2021-07-06T12:00:59-0400

Explicit costs refers to out of pocket costs that are usually made while implicit costs are more subtle as important as well.

The monthly cost can be estimated to range between $3000-$6000 per month depending on the location of the University.





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