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sgy_89 sgy_89
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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:
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VilaVila
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7 years ago
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