John Henry can prepare his own tax return in 15 hours or hire Mary Jane, who is a a tax specialist, to prepare it for John Henry in 2 hours. The value of John Henry's time is $11.00 an hour; Mary Jane will charge John Henry $55 an hour. The opportunity cost to John Henry of preparing his your own tax return is Multiple Choice $110. $165. $55. $275. < Prev 32 of 32 Next >
John Henry can prepare his own tax return in 15 hours or hire Mary Jane, who is a a tax specialist, to prepare it for John Henry in 2 hours. The value of John Henry's time is $11.00 an hour; Mary Jane will charge John Henry $55 an hour. The opportunity cost to John Henry of preparing his your own tax return is Multiple Choice $110. $165. $55. $275. < Prev 32 of 32 Next >
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
32

Transcribed Image Text:John Henry can prepare his own tax return in 15 hours or hire Mary Jane, who is a a tax specialist, to prepare it for John Henry in
2 hours. The value of John Henry's time is $11.00 an hour, Mary Jane will charge John Henry $55 an hour. The opportunity cost
to John Henry of preparing his your own tax return is
Multiple Choice
$110.
$165.
$55.
$275.
< Prev
32 of 32 III
Next
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