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Candy is a Year 4 full-time undergraduate student majoring in marketing at a private university in

By March 17, 2022No Comments

Candy is a Year 4 full-time undergraduate student majoring in marketing at a private university inHong Kong and she is going to be graduated after the summer break.She has collected some datafrom the Student Careers and Affairs Office (SCAO)related to her job planning.According to the graduate employment surveys conducted for the last two years by the privateuniversity,the average salary earned by the graduates of her programme is constant at around$14,000.Actually,Candy is quite disappointed.In view of this,Candy is considering to participate in an one-year internship program launched by theSCAO after her graduation.In other words,she would enter the job market“formally”one year laterif she joins the internship program.Finally,with the help of the SCAO,she could get an internshipoffer from a famous marketing company in Hong Kong.The monthly salary provided by the companyis $12,000 while a good reference letter would be prepared for the interns completing the internshipsatisfactorily.With this good reference letter and sound working experience gained,Candy hopesshe could be more competitive in the job market with the profile of internship.Candy now is considering whether to accept the internship offer of the marketing company.(a)Define opportunity cost.What is the opportunity cost for Candy to accept the internship offer ofthe marketing company?Explain.(b)What are the expected benefits for Candy to accept the internship offer of the marketingcompany?Explain.(c)Based on the concept of rational choice,under what situation,Candy should accept the internshipoffer of the marketing company?Explain your answer with a simple cost and benefit analysis andsupport with relevant data you obtained from parts (a)and (b).

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