An Elderly Relative Offers to Sell You Their Used 1958

question 86

Multiple Choice

An elderly relative offers to sell you their used 1958 Cadillac Eldorado for $50,000.You note that very similar cars are selling on the open market for $90,000.You don't care for classic cars and would rather buy a new Ford Explorer for $35,000.What is the net value of buying the Cadillac?

• A)$90,000,since the Cadillac could be sold for this price.
• B)$50,000,since the Cadillac could be bought for this price.
• C)$40,000,since this is the difference between purchase and resale price of the Cadillac.
• D)$35,000,since this is the value of the car that you really want to buy.

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Definitions:

Behavior Change

The process through which individuals modify their actions or reactions, often aimed at achieving a specific outcome or improving well-being.

Bipolar Disorder

A mental health condition characterized by extreme mood swings, including emotional highs (mania) and lows (depression).

Antipsychotic Drug

Medication used to treat psychiatric conditions by altering brain chemistry to reduce psychotic symptoms like hallucinations or delusions.

Lithium

A chemical element used in the treatment of bipolar disorder and other psychiatric conditions to stabilize mood.