Use the information in Table (as well as the assumption about foregone income made in the chapter) to compare the opportunity cost of attending a year of college for a student at a two-year public college, under each of the following assumptions:

a. The student receives free room and board at home at no opportunity cost to the parents.

b. The student receives an academic scholarship covering all tuition and fees (in the form of a grant, not a loan or a work study aid).

c. The student works half time while at school (assume that the leisure or study time sacrificed has no opportunitycost).

Type of Institution Tuition and fees Books and supplies Room and board Transportation and other expenses Total out-of-pocket costs Two-Year Public Four-Year Public $2 402 $1,036 $7.341 $3.275 $6,585 $1.077 $7.748 $2.916 Four-Year Private $25,143 $1.054 $8,989 $2,204 $14,054 $18326 $37.390