Travel Time Each Way Price of a Suit Store (Minutes) (Dollars per suit) Local Department Store 15 100 Across Town 3|] 86 Neighboring City GI] 63 Juanita makes $56 an hour at work. She has to take time off work to purchase her suit, so each hour awa'glr from work costs her $56 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following quesons, ignore the cost of gasoline and depreciation of her car when traveling. Juanita makes $56 an hour at work. She has to take time off work to purchase her suit. so each hour away from work costs her $56 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Como-fete the foiiowing table by computing the opportunity cost of Juanita 's time and the total cost of snooping at each iooation. Opportunity Cost of me Price of 3 Suit Total Cost Store (Dollars) (Dalian per suit} (Dollars) Local Departmen 100 E Across Town store aaoss town 35 E Neighboring Citv store in the neighboring city 53 Z local department store Assume that Juanita - prioe of the suit into consideration when she shops. Juanita will minimize the cost of the suit if she buys it from the V . Determining opportunity cost Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores carry the same suit, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 Discounted minutes away from where she works, and pay a marked-up Marked-up price price price of $100 for the suit: Juanita's office Original price