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Kss612 Kss612
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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. If the opportunity cost of time increases to $60 per hour, renting which apartment will minimize Ryan's total cost every month?

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Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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jbeejbee
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5 months ago
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Kss612 Author
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5 months ago
You make an excellent tutor!
Loruiz15
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Yesterday
this is exactly what I needed
Mcb
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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