Air travel from New York to Los Angeles costs $800 and takes 4 hours. A bus ticket between the cities costs $100 and takes 104 hours. Other things constant, the minimum value of one's time that would induce a rational individual to fly rather than drive would be: (A)
A. just over $7 per hour
B. anything greater than $0 per hour
C just over $700 per hour.
D. just over $100 per hour
E. just over $10 per hour
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Air travel from New York to Los Angeles costs $800 and takes 4 hours. A bus ticket between the cities costs $100 and takes 104 hours. Other ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The phase of the business cycle in which real gdp declines is called question 22 options: the peak. an expansion. a recession. the trough.
Answers (1)
Which of the following is a key performance indicator of the customer perspective in a balanced scorecard? A. employee satisfaction B. defect rate C. number of repeat customers D. gross margin growth
Answers (1)
Why would a country give another country financial assistance but require that capital projects using that money be contracted with granting country
Answers (1)
Jane has a weekly budget of $50 to spend on fruit and vegetables. She decides to buy 4 pounds of fruit at a cost of $5/lb. She spends the rest on 5 pounds of vegetables.
Answers (1)
Consider the following monthly amortization schedule: Payment # Payment Interest Debt Payment Balance 1 1,167.34 540.54 626.80 259,873.20 2 1,167.34 539.24 628.10 259,245.10 3 1,167.
Answers (1)
New Questions in Business
An entrepreneur is a person who owes money to a bank or other financial institution
Answers (1)
Suppose that there are two industries, A and B. There are five firms in industry A with sales at $5 million, $2 million, $1 million, $1 million, and $1 million, respectively. There are four firms in industry B with equal sales of $2.
Answers (1)
Despite having the highest overall GDP, the US ranks fifth for productivity when considering the GDP per hour worked. What contributes to this discrepancy?
Answers (1)
Young raxxi invested in a back-loading mutual fund at a rate of 3%. the net asset value at the time of purchase was $18.48. at the time young sold his fund shares the net asset value was $18.25. his investment was $9,240.
Answers (1)
12. An industry is defined as: a. A collection of firms that compete with one another in a single product market. b. A collection of firms that exist in a particular geographical area (e. g. Spain). c.
Answers (1)