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NeuroJuice NeuroJuice
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5 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. The total cost per month is the lowest if Ryan chooses to rent Apartment ________.

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Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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anitasaganitasag
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5 months ago
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