Solved

Stan Buys a 1966 Mustang, Which He Plans to Restore

Question 71

Multiple Choice

Stan buys a 1966 Mustang, which he plans to restore and sell. He anticipates that the cost of the car and the repairs will be $10,000 and that he can sell it for $13,000. When he has spent $10,000, he discovers he needs to replace the engine, which will cost $4,000. He can sell the car without the new engine for $9,000. What should Stan do?


A) complete the repairs and sell the car for $13,000
B) cut his losses and sell the car now for $9,000
C) never try such an expensive project again
D) be totally indifferent between finishing the project and selling the car now

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents