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Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Opportunity Cost of Time Price of a Suit Total Cost Store (Dollars) (Dollars per suit) (Dollars) Local Department Store 30.00 114 144.00 Across Town 45.00 86 131.00 Neighbouring City 75.00 60 135.00 Assume that Juanita takes opportunity costs and the price of the suit into consideration when she shops. Juanita will minimize the cost of the suit if she buys it from the

Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Opportunity Cost of Time Price of a Suit Total Cost Store (Dollars) (Dollars per suit) (Dollars) Local Department Store 30.00 114 144.00 Across Town 45.00 86 131.00 Neighbouring City 75.00 60 135.00 Assume that Juanita takes opportunity costs and the price of the suit into consideration when she shops. Juanita will minimize the cost of the suit if she buys it from the

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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30 In lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when travelling. Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Opportunity Cost of Time Price of a Suit Total Cost Store (Dollars) (Dollars per suit) (Dollars) Local Department Store 30.00 114 144.00 Across Town 45.00 86 131.00 Neighbouring City 75.00 60 135.00 Assume that Juanita takes opportunity costs and the price of the suit into consideration when she shops. Juanita will minimize the cost of the suit if she buys it from the
Transcribed Image Text:30 In lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when travelling. Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Opportunity Cost of Time Price of a Suit Total Cost Store (Dollars) (Dollars per suit) (Dollars) Local Department Store 30.00 114 144.00 Across Town 45.00 86 131.00 Neighbouring City 75.00 60 135.00 Assume that Juanita takes opportunity costs and the price of the suit into consideration when she shops. Juanita will minimize the cost of the suit if she buys it from the
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