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Store Travel Time Each Way (Minutes) Price of a Suit (Dollars per suit) Local Department Store 15 122 Across Town 30 90 Neighboring City 60 78   Juanita makes $60 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $60 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 traveling.   Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.   Store Opportunity Cost of Time (Dollars) Price of a Suit (Dollars per suit) Total Cost (Dollars) Local Department Store   122   Across Town   90   Neighboring City   78     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  a. local department store b. store across town c. store in the neighboring city

Store Travel Time Each Way (Minutes) Price of a Suit (Dollars per suit) Local Department Store 15 122 Across Town 30 90 Neighboring City 60 78   Juanita makes $60 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $60 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 traveling.   Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.   Store Opportunity Cost of Time (Dollars) Price of a Suit (Dollars per suit) Total Cost (Dollars) Local Department Store   122   Across Town   90   Neighboring City   78     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  a. local department store b. store across town c. store in the neighboring city

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter10: Short-term Decision Making
Section: Chapter Questions
Problem 5PB: Blake Cohen Painting Service specializes in small paint jobs. His normal charge is $350/day plus...
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Store
Travel Time Each Way (Minutes)
Price of a Suit (Dollars per suit)
Local Department Store 15 122
Across Town 30 90
Neighboring City 60 78
 
Juanita makes $60 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $60 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 traveling.
 
Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.
 
Store
Opportunity Cost of Time (Dollars)
Price of a Suit (Dollars per suit)
Total Cost (Dollars)
Local Department Store
 
 122
 
Across Town
 
 90
 
Neighboring City
 
 78
 
 
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 
a. local department store
b. store across town
c. store in the neighboring city
Store Local Department Store Across Town Neighboring City Travel Time Each Way (Minutes) 15 30 60 Store Local Department Store Across Town Neighboring City Price of a Suit (Dollars per suit) 122 90 78 Juanita makes $60 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $60 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 traveling. 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 (Dollars) Price of a Suit (Dollars per suit) 122 Total Cost (Dollars) 90 78 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:Store Local Department Store Across Town Neighboring City Travel Time Each Way (Minutes) 15 30 60 Store Local Department Store Across Town Neighboring City Price of a Suit (Dollars per suit) 122 90 78 Juanita makes $60 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $60 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 traveling. 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 (Dollars) Price of a Suit (Dollars per suit) 122 Total Cost (Dollars) 90 78 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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