Determine what the rational choice-accounting profit

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You are trying to decide what to do after college. You can go to business school, which would cost $55,000 in tuition for two years, and you will make $100,000 per year afterward. Otherwise, you can get a job right away that pays $50,000 per year. Draw out the decision tree for t ≥ 2 years from now in terms of the variable t with Accounting Profit, Opportunity Costs and Economic Pro?t clearly labeled. For each value of t ≥ 2, determine what the rational choice is.

Reference no: EM13855448

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