Top Posters
Since Sunday
A
6
j
6
c
5
m
5
C
5
d
5
s
5
n
4
i
4
d
4
d
4
J
4
New Topic  
sgy_89 sgy_89
wrote...
Posts: 677
Rep: 0 0
7 years ago
One summer, John spent every night after work building a garage. "I did all the labor myself, so it didn't cost me anything. And I managed to save $3,000 compared to the price Ace Builders quoted me." Which of the following is true?
A) John's calculation ignores the explicit cost of his labor.
B) John must have decided that his leisure time was worth more than $3,000.
C) John must be irrational to give up that many evenings to save only $3,000.
D) John's calculation ignores the implicit cost of his labor.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
Read 50 times
1 Reply
Replies
Answer verified by a subject expert
VilaVila
wrote...
Top Poster
Posts: 684
Rep: 8 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

sgy_89 Author
wrote...

7 years ago
This site is awesome
wrote...

Yesterday
Just got PERFECT on my quiz
wrote...

2 hours ago
This helped my grade so much Perfect
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  865 People Browsing
Related Images
  
 441
  
 229
  
 985
Your Opinion
What's your favorite coffee beverage?
Votes: 299