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

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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