3. Determining opportunity cost Suppose that Ciana is deciding whether or not to buy a pair of boots that she has been researching online, and also the best place to make her purchase. Three different stores in the area sell the boots she likesJr but some stores are more convenient for Ciana to reach than others. One option is her local shoe store located only 15 minutes away from where she works, where theyr charge a markedup price of $118 for the boots: Travel Time Each Way Price of a Boots Store (Minutes) (Dollars per boots) Local Shoe Store 15 118 Different Neighborhood in Town 30 96 Rural Outlet 50 78 Ciana earns an hourly wage of $25 at her job. In order to purchase her boots she will have to take time off work, so each hour away from her job costs her $26 in lost income. Assume that Ciana's travel time is the same each way (to and from the store) and that it will take her 30 minutes once she reaches a store to complete her shopping. Assume throughout the question that Ciana incurs no additional costs other than the boots, such as gas. Complete the foilomng table by computing the opportunity cost of Ciana's time and the totall cost of shopping at each location. Opportunity Cost of Time Price of a Boots Total Cost Store (Dollars) (Dollars per boots ) ( Dollars ) Local Shoe Store E 118 E Different Neighborhood in Town E 96 E Rural Outlet E 78 E Assume that Ciana considers both her opportunity costs and the price of boots when making her shopping decision. Ciana will minimize her cost of buying the boots if she shops at the Y