Kim needs to buy a textbook for the next economics class. The price at the college bookstore
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Kim needs to buy a textbook for the next economics class. The price at the college bookstore is $65. One website offers it for $55, and another site, for $57. All prices include sales tax. The accompanying table indicates the typical shipping and handling charges for the textbook ordered online.
a. What is the opportunity cost of buying online instead of at the bookstore? if you buy the book online, you must wait to get it.
b. Show the relevant choices for Kim. What determines which of these options Kim will choose?
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ANSWER a Since we are ready to wait The opportunity cost in monetary terms would be 55 399 65 which ...View the full answer
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