Neema Has Just Spent One Hour Roller Skating with Her

question 77

Multiple Choice

Neema has just spent one hour roller skating with her friends and is trying to decide whether to skate for another hour. Each hour of roller skating costs $7, plus a one-time skate rental fee of $6. Skating for another hour will make Neema one hour late for her job, where she earns $13 per hour. Which of the following statements is true?
I. The $6 skate rental fee is a sunk cost.
II. The opportunity cost of skating for one more hour is $13.
III. Neema should keep skating if the value she places on skating for one more hour is at least $20.

• A)I only
• B)II only
• C)I and III only
• D)I, II, and III

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Definitions:

Ketone Reduction

A chemical reaction wherein a ketone is reduced to an alcohol, frequently involving the use of a reducing agent.

NaBH4

Sodium borohydride, a reducing agent commonly used in organic chemistry to reduce ketones and aldehydes to alcohols.

Secondary Alcohol

An alcohol containing a hydroxyl group (-OH) attached to a carbon atom that is connected to two other carbon atoms.

Organic Product

Compounds containing carbon atoms, and generally hydrogen atoms, produced from organic reactions involving organic compounds.