Suppose That You Could Prepare Your Own Tax Return in 15

question 5

Multiple Choice

Suppose that you could prepare your own tax return in 15 hours,or you could 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) $40.
• B) $55.
• C) $110.
• D) $165.
• The use of your time to do the tax returns is 15*$11.00 = $165.00.This is your opportunity cost.

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Definitions:

Fungus Cell

A eukaryotic cell belonging to the kingdom Fungi, characterized by a chitin cell wall, absence of chlorophyll, and a unique mode of heterotrophic growth and reproduction.

Club Fungi

A group of fungi characterized by the production of spores on club-shaped structures called basidia.

Fruiting Body

The reproductive structure produced by certain fungi and plants, designed for spore dissemination.

Mushroom

A type of fungus characterized by a cap on a stem, producing spores beneath the cap, and known for a variety of shapes, sizes, and colors.