The opportunity cost of a scholarship

Reference no: EM13847737

A university had initially allocated £500k to lectureships and scholarships, each of which costs £50k and £10k respectively. Its trustees have later reduced the overall budget to £300k. Hence, the opportunity cost of a scholarship has:

Select one or more:

a. Fallen

b. Increased

c. Remained unchanged

Reference no: EM13847737

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