Author Question: Melissa is a self-employed lawyer who chooses a higher-priced restaurant 2 miles from home over a ... (Read 9 times)

CORALGRILL2014

  • Hero Member
  • *****
  • Posts: 525
Melissa is a self-employed lawyer who chooses a higher-priced restaurant 2 miles from home over a cheaper restaurant 15 miles from home. Which of the following is the most likely explanation for her behavior?
 a. The opportunity cost of her time is very low.
  b. She doesn't take travel time into consideration.
  c. She doesn't like to cook or doesn't know how.
  d. The prices at the more expensive restaurant understate the opportunity cost of eating there.
  e. The higher monetary cost of the more expensive restaurant is offset by the higher opportunity cost of the lower-priced restaurant.

Question 2

If you enjoy playing golf, the opportunity cost of cleaning your room
 a. is the same on sunny days as it is on rainy days
  b. is greater on sunny days than it is on rainy days
  c. is smaller on sunny days than it is on rainy days
  d. does not change with the weather conditions
  e. is equal to the opportunity cost of any other chore you have to do that day



Jody Vaughn

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

E

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

For a complete list of videos, visit our video library