Jane is a top-level executive and is very rich. Jane just ordered a car only to be told that she will have to wait three weeks for it to be delivered. Which of the following statements is true?

Question

Quizplus · Accepted Answer

The fact that Jane has to wait three weeks for the car to be delivered mean that the car is a scarce good, as there is not an unlimited supply of it. The option of waiting three weeks is the opportunity cost that Jane incurs, regardless of her financial status. Option A is incorrect because scarcity is not determined by a person's wealth. Option C is incorrect because there is always an opportunity cost, even if a person has unlimited funds. Option D is unrelated to the question, as there is no indication that Jane paid too much for the car or that the delay was caused by overpayment.

Jane Is a Top-Level Executive and Is Very Rich