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Unformatted text preview: Homework #7 Alyssa Griffith 1. Make a trip to the supermarket and compare the retail cost of one gallon (1 gallon = 3.79 liters/128 oz.) of the following items: a. Regular unleaded gasoline: $2.77 b. Coca-Cola: (2 liter = $1.69) $3.20 c. Orange juice: (1/2 gallon = $3.49)$6.80 d. Perrier water: (1 liter = $1.79) $6.78 e. Jack Daniels: $102 f. Extra virgin olive oil: (40 oz. = $17) $54.40 2. How much are these items really worth? For each item above, list the maximum price that you would be willing to pay. That is, at what cost would you say to yourself: Thats too expensive Ill have do without? It can be difficult to ask oneself how much something is worth to them, but essentially some items are worth more to a person than others. Some of these items are not difficult to cut out. First, I would cut out the Jack Daniels. I cannot drink legally and do not have a use for it. So, if I had to pick a price that I would have to do without it, I guess it would be $0. I dont think Perrier water is worth it to buy at all. In many instances bottled water can be less dont think Perrier water is worth it to buy at all....
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This note was uploaded on 03/30/2008 for the course MASC 051 taught by Professor Alperin during the Spring '08 term at UNC.
- Spring '08