Back to Assignment Attempts 0 Keep the Highest 0 / 2 3. Determining opportunity cost Suppose that Ciana is deciding whether or not to buy a pair of sandals that she has been researching online, and also the best place to make her purchase. Three different stores in the area sell the sandals she likes, but some stores are more Discounted price convenient for Ciana to reach than others. One option is her Marked-up price local shoe store located only 15 minutes away from where she works, where they charge a marked-up price of $112 for the sandals: Juanita's office HIIT Original price Travel Time Each Way Price of a Sandals Store (Minutes) (Dollars per sandals) Local Shoe Store 15 112 Different Neighborhood in Town 30 98 Rural Outlet 60 86Ciana earns an hourly wage of $42 at her job. In order to purchase her sandals she will have to take time off work, so each hour away from her job costs her $42 in lost income. Assume that Ciana's travel time is the same each way (to and from the store) and that it will take her 30 minutes once she reaches a store to complete her shopping. Assume throughout the question that Ciana incurs no additional costs other than the sandals, such as gas. Complete the following table by computing the opportunity cost of Ciana's time and the total cost of shopping at each location. Opportunity Cost of Time Price of a Sandals Total Cost Store (Dollars) (Dollars per sandals) (Dollars) Local Shoe Store 28.00 X 112 140.00 X Different Neighborhood in Town 42.00 X 98 140.00 X Rural Outlet 84.00 X 86 170.00 X Points: 0 / 1