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Suppose apartments are in four locations: Location A, Location B, Location C, and Location D. Location A is in the city, where your job is. Location B is 10 minutes farther from your job than Location
A. Location C is 1 0 minutes farther from your job than Location B. and Location D is 10 minutes farther than Location C. In turn, similar apartments in Location B rent for $135 less per month than
apartments in Location A, apartments in Location C rent for $135 less than in Location B. and apartments in Location D rent for Sl 35 less than in Location C. Suppose tie value of your time $20
per hour and you work 21 days per With each day requiring a round-trip commute frorn your apartment to work.
For Simplicity. assume rent and the cost Of your time commuting to work are the only factors influencing the which to rent an
You should rent an apartment in