October 7, 2015

Homework Help: Microeconomics

Posted by Sarah on Wednesday, March 4, 2009 at 2:29pm.

Lisa needs to buy a textbook for the next economics class. The price at the bookstore is $65. One online site offers the same book for $55 and another site for $57. All prices include sales tax. The following table indicates the typical shipping and handling charges for the textbook ordered online.

Delivery time = 3-7 days, S&H = $3.99
Delivery time = 2 business days, S&H = $8.98
Delivery time = 1 business day, S&H = $13.98

a. What is the opportunity cost of buying online?
b. Show all relevant choices for this student.
c. What determines which of these options the student will choose?

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