Question: Sunk cost QUESTION 4 Michelle's costs for college are: Tuition: $5,000 Books: $300 Fees: $200 When she goes to college, she must reduce her working

Sunk cost

QUESTION 4 Michelle's costs for college are: Tuition: $5,000 Books: $300 Fees: $200 When she goes to college, she must reduce her working hours, so her income is $2,000 less. She will also have less time with her friends and family, which she values at $1,000. What is her accounting cost for going to college? (Enter the amount without the "$") What is her opportunity cost for going to college? (Enter the amount without the "$") QUESTION 5

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