Allie's car needs an oil change. She can take the car to an auto shop and have the oil changed for $35 or she can change the oil herself for $10. If Allie changes the oil herself, she will have to take two hours off from her job where she earns $15 per hour. Which of the following statements is true?
A) Allie should change the oil herself, because $10 is cheaper than $35.
B) The opportunity cost of changing the oil herself is $30.
C) Allie should change the oil herself, because the opportunity cost of changing it is only $30.
D) The opportunity cost of changing the oil herself is $40.
Correct Answer:
Verified
Q65: Behavioral economists believe that the less obvious
Q66: Jasmine is trying to decide what to
Q67: People are especially prone to undervaluing opportunity
Q68: Priya is ice skating with her friends
Q69: Carlos has been invited to go skiing
Q71: A consumer is likely to _ his
Q72: Dale just won tickets to see a
Q73: Neema has just spent one hour roller
Q74: Howie just bought a new digital camera
Q75: Kyohei wants to buy a new guitar
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents