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Question: question 1 opportunity cost it is estimated that over 100000...

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Question 1: Opportunity Cost It is estimated that over 100,000 students apply to the top 30 MBA programs in the US eaclh year. Answer the following three questions in 1-2 sentences (1) (2 points) Using the concept of opportunity cost (you may need to refresh this with a quick search), what can we conclude about these applicants? (2) (2 points) The average tuition for the top 30 programs is around $58,000 per year, totalling over $116,000 for two years. Using the concept of Net Present Value, what can we conclude about these applicants beliefs about their future salary? (3) (4 points) What would you expect to happen to the number of applicants if the starting salaries of managers with MBA degrees remained constant, but the salaries of managers without MBA degrees decreased by 20%?

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