Your Firm Owns an Old Truck That Is Used to Make

question 15

Multiple Choice

Your firm owns an old truck that is used to make local deliveries. The truck is fully depreciated and only costs $1.20 per hour to operate, but you could rent it to another firm for $15.00 per hour. What is the opportunity cost of operating this truck in your business?

• A) $1.20 per hour
• B) $15.00 per hour
• C) $16.20 per hour
• D) Less than $1.20 per hour

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Definitions:

Situational Norms

Socially accepted behaviors that vary depending on context and environment.

Highly Accessible

Pertains to information, resources, or locations that can be easily reached or obtained.

Attitude

A psychological tendency expressed by evaluating a particular entity with some degree of favor or disfavor.

Persuasive Communication

The technique of using messages to inform, influence, or convince individuals to change their beliefs, attitudes, or actions.