Top Posters
Since Sunday
r
4
L
4
3
d
3
M
3
l
3
V
3
s
3
d
3
a
3
g
3
j
3
New Topic  
srsbiz srsbiz
wrote...
Posts: 163
Rep: 0 0
A year ago
Scenario: Ryan wants to rent an apartment. The following table shows the monthly rent of five apartments and the number of hours per month it takes to commute to work from each apartment. Ryan's opportunity cost of time is $15 per hour.

ApartmentCommuting Time (hours per month)Rent ($ per month)
1401,500
2201,750
3102,000
442,210
512,250


Refer to the scenario above. What is the total cost incurred per month if Ryan rents Apartment 3?

▸ $2,000

▸ $2,270

▸ $2,150

▸ $2,050
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
Read 61 times
1 Reply
Replies
Answer verified by a subject expert
micp3537micp3537
wrote...
Posts: 153
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

srsbiz Author
wrote...

A year ago
Thank you, thank you, thank you!
wrote...

Yesterday
Thanks for your help!!
wrote...

2 hours ago
You make an excellent tutor!
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  1620 People Browsing
Related Images
  
 351
  
 2989
  
 313
Your Opinion
Who's your favorite biologist?
Votes: 608