# Microeconomics

posted by .

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?

• Microeconomics -

Take a shot, what do you think.
Hint: first eliminate the clear loser options. The \$57 purchase is a clear loser as one can make an online purchase for \$55. The 1-day delivery is also a clear loser. The opportunity cost of getting the book for \$58.99 instead of 65 is the possible 7-day wait. Take it from here.

## Similar Questions

1. ### Economics

what it meant by equilibrium in economics?
2. ### homework help site w/ all subjects?

does any one know of any other homework help site where people can draw stuff and explain things, the site covers all subjects, but i forget wat the site is, and i dotnt want a paying site like stupid tutor vista..
3. ### managerial economics

A firm offers two differentiated products, X and Y and faces two types of consumers, types A and B. There are equal numbers of each type of consumers ¡V so, for simplicity, assume there is just one of each type. The valuations of …
4. ### managerial economics

A firm offers two differentiated products, X and Y and faces two types of consumers, types A and B. There are equal numbers of each type of consumers ¡V so, for simplicity, assume there is just one of each type. The valuations of …
5. ### managerial economics

A firm offers two differentiated products, X and Y and faces two types of consumers, types A and B. There are equal numbers of each type of consumers ¡V so, for simplicity, assume there is just one of each type. The valuations of …
6. ### 11th grade Algebra 2

At a college bookstore, Carla purchased a math textbook and a novel thjat cost a total of \$54, not including tax. If the price if the math textbook, m, is \$8 more than 3 times the price of the novel, n, write a system of linear equations …
7. ### programming

Write a program that asks for and reads the price of a book (it may have a decimal part), multiplies it by 7% sales tax and displays both the sales tax and final price of the book on the screen.
8. ### Java progamming 1

I want the program to ask for and get the price of a book from a user. The program will then multiply the price by 7% sales tax and display both the sales tax and final price of the book (price + sales tax) on the screen. using Netbeans
9. ### Math

marilyn plans to buy a book to read during her summer vacation. she has at most \$18 set aside to purchase the book. the sales tax in her state in 8%. If x is the maximum price if the book that she can buy to stay within her budget, …
10. ### Intermediate Algebra

Suppose a college bookstore buys a textbook from a publishing company and then marks up the price they paid for the book 33% and sells it to a student at the marked-up price. If the student pays \$75.00 for the textbook, what did the …

More Similar Questions