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You just moved into your new apartment, which has washer and dryer hookups, but your apartment complex doesn't provide washers and dryers. You don't want
You just moved into your new apartment, which has washer and dryer hookups, but your apartment complex doesn't provide washers and dryers. You don't want to go to a laundromat. You can rent a washer and dryer set from an appliance rental company for $30 per month. Alternatively, you could buy a set for $1,100, which you could sell after one year for $700, or $600 after two years. Should you buy or rent the set? Choose the correct statement. Correct Answer a) If you plan to stay in the apartment for one year, you should rent the set to earn $40 worth of economic surplus. b) If you plan to stay in the apartment for one year, you should buy the set to earn $40 worth of economic surplus. Incorrect Response c) If you plan to stay in the apartment for two years, you should rent the set to earn $220 worth of economic surplus. d) If you plan to stay in the apartment for two years, you should buy the set to earn $500 worth of economic surplus
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