A degree program costs $50,000 in total expenses: $30,000 in tuition and $20,000 in housing and books. The US Government provides a grant for $10,000 of the tuition. Moreover, the university pays $20,000 of the $30,000 tuition in salary to your instructors. Being in the program is so much fun; you would be willing to pay a net of $5000, for the pleasure, relative to your alternatives. What is the net cost of the education to you?
Solve the problem and write a 50-100 word response explaining the results you obtained for the selected question.