Suppose That You Could Either Prepare Your Own Tax Return

question 156

Multiple Choice

Suppose that you could either prepare your own tax return in 15 hours or hire a tax specialist to prepare it for you in 2 hours. You value your time at $11.00 an hour; the tax specialist will charge you $55 an hour. The opportunity cost of preparing your own tax return is

• A) $275.
• B) $55.
• C) $110.
• D) $165.

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Definitions:

Deep

Having a large distance to the bottom from the surface or a significant extent downward.

Metamorphism

The process by which the structure, composition, and physical properties of rocks are changed by heat and pressure without melting.

Heating by Magma

The process by which surrounding rock and material are heated due to the intrusion or presence of magma, which can lead to metamorphism or melting.

Shearing at Depth

Deformation of rock and soil layers deep within the Earth's crust caused by lateral movement or stress.