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Original price Travel Time Each Way Price of a Sandals Store ( Minutes) (Dollars per sandals) Local Shoe Store 15 113 Different Neighborhood in Town

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Original price Travel Time Each Way Price of a Sandals Store ( Minutes) (Dollars per sandals) Local Shoe Store 15 113 Different Neighborhood in Town 30 100 Rural Outlet 60 73 Ciana earns an hourly wage of $16 at her job. In order to purchase her sandals she will have to take time off work, so each hour away from her job costs her $16 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 sandals, such as gas. Complete the following table by computing the opportunity cost of Ciana's time and the total cost of shopping at each location. Opportunity Cost of Time Price of a Sandals Total Cost Store (Dollars) (Dollars per sandals) (Dollars) Local Shoe Store 16.00 113 129.00 Different Neighborhood in Town 100 Rural Outlet 73 Assume that Ciana considers both her opportunity costs and the price of sandals when making her shopping decision. Ciana will minimize her cost of buying the sandals if she shops at the local shoe store Grade It Now Save & Continue Continue without saving

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