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Maria has to choose between driving and taking a train to destination A. Traveling by train will ...

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Maria has to choose between driving and taking a train to destination A. Traveling by train will ...

Maria has to choose between driving and taking a train to destination A. Traveling by train will cost her $400 and will take 4 hours. Driving to destination A takes 6 hours, and the required amount of gasoline costs $250. Her opportunity cost of time is $15 per hour.

Refer to the scenario above. If Maria's opportunity cost of time increases to $80 per hour, the cost of taking the train is ________.

▸ $970

▸ $320

▸ $800

▸ $720

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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Thank you, thank you, thank you!

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