Purchase Solution

Marginal Costs and Benefits of Pursuing Additional Education

Not what you're looking for?

Ask Custom Question

Your decision to pursue a higher-level degree is based on investment in human capital. What are the marginal costs and benefits of pursuing additional education and the inherent risks associated with this decision?

Purchase this Solution

Solution Summary

This posting clearly depicts the marginal costs and benefits of pursuing additional education and the inherent risks associated with this decision as well.

Solution Preview

When answering this question, you need to understand the opportunity costs and benefits associated with your education.

Opportunity costs:
To pursue additional education, you're giving up time and money. The time you're using to gain additional education you could be using for other activities or pursuits. For one, you could be working, so the value of your time can be quantified by the wages you're not earning. Also, you can value your time by the utility (benefit or satisfaction) you would receive from other activities, such as leisure. However, it is harder to quantify the value of leisure than it is to quantify the value of work, since wages provide ...

Purchase this Solution


Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.