College students sometimes work as summer interns for private firms or the government Many of these positions pay little or nothing a What is the opportunity cost of taking such a job b Explain why students are willing to take these jobs c If you were to compare the earnings later in life of worker...

a The opportunity cost of taking a job as a summer intern that pays little or nothing is the wage t ...

College students sometimes work as summer interns for private firms or the government. Many of these positions

Question:

College students sometimes work as summer interns for private firms or the government. Many of these positions pay little or nothing.
a. What is the of taking such a job?
b. Explain why students are willing to take these jobs.
c. If you were to compare the earnings later in life of workers who had worked as interns and those who had taken summer jobs that paid more, what would you expect to find?

Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...