Travel Time Each Way Price of a Dress Store (Minutes) (Dollars per dress) Local Department Store 15 112 Across Town 30 89 Neighboring City 60 70 Juanita makes $26 an hour at work. She has to take time...

Extracted text: Travel Time Each Way Price of a Dress Store (Minutes) (Dollars per dress) Local Department Store 15 112 Across Town 30 89 Neighboring City 60 70 Juanita makes $26 an hour at work. She has to take time off work to purchase her dress, so each hour away from work costs her $26 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Opportunity Cost of Time Price of a Dress Total Cost Store (Dollars) (Dollars per dress) (Dollars) Local Department Store 112 Across Town 89 Neighboring City 70


Extracted text: 2. Determining opportunity cost Juanita is deciding whether to buy a dress that she wants, as well as where to buy it. Three stores carry the same dress, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, Discounted price located 15 minutes away from where she works, and pay a Marked-up price marked-up price of $112 for the dress: Juanita's office Original price