ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The rule for optimal human capital investment is that: the individual should increase years of education until the discounted present value of the benefits of an additional year of education equals the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of an additional year of education is less than the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of an additional year of education is greater than the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of all of the years of education equals the discounted present value of all of the associated costs.
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Transcribed Image Text:The rule for optimal human capital investment is that: the individual should increase years of education until the discounted present value of the benefits of an additional year of education equals the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of an additional year of education is less than the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of an additional year of education is greater than the discounted present value of the additional costs. the individual should increase years of education until the discounted present value of the benefits of all of the years of education equals the discounted present value of all of the associated costs.
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