Multiple Choice
While eating dinner one evening,you receive a phone call from a telemarketing firm.The firm's representative informs you that your name is one of only five names drawn in a recent lottery.Each of the five people will receive a prize.In order to claim your prize,however,you must visit Summer Resorts,Inc.the following Friday (with no commitment to purchase anything) ,take a 90 minute tour of their facilities,and,at that time,your prize will be awarded.In order to visit Summer Resorts,Inc.the next Friday,you would have to miss 8 hours of work ($15 per hour) ,pay for the gas to drive there and back home ($20) ,and buy lunch ($10) .Because you won't go to work that day you won't have to pay the $3 for gas to drive to and from work,nor pay to park,for which you have a monthly pass that costs $50.Using cost-benefit analysis,you determine that it is rational for you to visit Summer Resorts,Inc.if the prize has a minimum value to you of
A) $177.
B) $180.
C) $183.
D) $147.
E) $98.
Correct Answer:

Verified
Correct Answer:
Verified
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