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srsbiz srsbiz
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3 months 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:
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micp3537micp3537
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3 months ago
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$2,150
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srsbiz Author
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3 months ago
Brilliant ツ
Lawson1981
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Yesterday
This helped my grade so much Perfect
tcat
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2 hours ago
Thanks
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