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After owning a used car for two years, you start having problems with it. You take it to a mechanic and are told that it

After owning a used car for two years, you start having problems with it. You take it to a mechanic and are told that it will cost $4000 to repair. What factors will you take into account in deciding whether to have the repairs done or to get rid of the car and buy another one? Will the price you paid for the car be one of those factors? Briefly explain.

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