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24 December, 16:36

You can either take a bus or drive your car to work. A bus pass costs $5 per week, whereas driving your car to work costs $60 weekly (parking, tolls, gas, etc.). You spend half an hour less on a one-way trip in your car than on a bus. How would you prefer to travel to work if your wage rate is $10 per hour

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  1. 24 December, 16:51
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    By Bus

    Explanation:

    Travel cost for work using own car = $60 per week.

    Travel cost for work using bus = $5 per week.

    Weekly savings if one opts to travel by bus instead of using own car = $60 - $5 = $55

    No. of hours saved if one commutes by car = 5 hours

    Since, the hours saved represent wages that could be earned,

    Hours lost by commuting by bus in monetary terms = 5 hours * $10 per hour.

    = $50 per week.

    Net gain of travelling by bus per week instead of car = $55 - $50 = $5

    Since, the gain is positive, travel by bus is more beneficial.
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