Assignment:
|
Store
|
Opportunity Cost of Time
|
Price of a Skirt
|
Total Cost
|
|
(Dollars)
|
(Dollars per skirt)
|
(Dollars)
|
|
Local Department Store
|
|
103
|
|
|
Across Town
|
|
85
|
|
|
Neighboring City
|
|
63
|
|
Points:
Close Explanation
Explanation:
Assume that Juanita takes opportunity costs and the price of the skirt into consideration when she shops. Juanita will minimize the cost of the skirt if she buys it from the selector 1
store in the neighboring city
local department store
store across town