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1. Carefully explain using a diagram how the following hypothetical situations would affect the cost-benefit calculation of going to college: a. It is increasingly the case that full-time undergraduate students need 5 years to complete all of the requirements for a bachelors degree. Explain using a diagram. Label the direct costs, indirect costs, and benefits of going to college Years since high school graduation b. The real earnings of college-trained workers increase whil those for high school-trained workers decrease. Explain using a diagram. Label the direct costs, indirect costs, and benefits of going to college. Y ears since high school graduation
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