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How to calculate total opportunity cost

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How to calculate Total opportunity cost.

Suppose you plan to go to school this summer. The cost of tuition and textbooks is €1,400 and housing, board, and entertainment will cost you €500. If you didn't go to school, you'd live in your parents' house for free, but your other living expenses would be about the same. Also, if you didn't go to school you'd work full time and could earn €8,000. You can still work part-time while attending the summer school, but you will earn only €3,000.

What is your total opportunity costs of going to school this summer?

Reference no: EM132789900

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