A company is considering publishing a limited edition book bound in special leather. It has in stock the leather bought some years ago for $$1,000.$ To buy an equivalent quantity now would cost $$2,000.$ The company has no plans to use the leather for other purposes, although it has considered the possibilities:

of using it to cover desk furnishings, in replacement for other material which could cost $$900$;

of selling it if a buyer could be found $($the proceeds are unlikely to exceed $$800).$

The relevant cost for decision making purposes is:

Question $3$Select one:

a$.$

$$2,000$

b$.$

$$1,000$

c$.$

$ $900$

d$.$

$ $800$