You need a car. You decide to purchase a new car for $12,000 and sell it in one year. If you don't buy the new car the best you can do is to buy a second hand car for $3000 and invest $9000 in a mutual fund and earn an extra $900. You know if you buy the new car upon driving the car off from the lot, the resale value of the car and the opportunity cost of using will fall to $9,000, and you can sell your second-hand car for $1000. The ppportunity cost of purchasing the new car is, the second-hand car is, OA $12,000 and $1,000 OB$12,900 and $1,000 OC Unknown and $1,000 OD. $12,900 and $9,000

You need a car. You decide to purchase a new car for $12,000 and sell it in one year. If you don't buy the new car the best you can do is to buy a second hand car for $3000 and invest $9000 in a mutual fund and earn an extra $900. You know if you buy the new car upon driving the car off from the lot, the resale value of the car and the opportunity cost of using will fall to $9,000, and you can sell your second-hand car for $1000. The ppportunity cost of purchasing the new car is, the second-hand car is, OA $12,000 and $1,000 OB$12,900 and $1,000 OC Unknown and $1,000 OD. $12,900 and $9,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Typed plzz

You need a car. You decide to purchase a new car for $12,000 and sell it in one year. If you don't buy the new car the best you can do is to buy a second-hand car for
$3000 and invest $9000 in a mutual fund and earn an extra $900. You know if you buy the new car upon driving the car off from the lot, the resale value of the car
and the opportunity cost of using
will fall to $9,000, and you can sell your second-hand car for $1000. The ppportunity cost of purchasing the new car is
the second-hand car is.
OA $12,000 and $1,000.
OB. $12,900 and $1,000
OC Unknown and $1,000
OD. $12,900 and $9,000

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