Top Posters
Since Sunday
g
2
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
whipped whipped
wrote...
Go to Answer
Posts: 560
Rep: 0 0
8 years ago
Wendy has to decide between taking a flight and driving to California. Air tickets cost $800 and will get her to California in 2 hours. If she decides to drive, she would need $300 worth of gasoline and 10 hours to reach her destination. Suppose that Wendy's opportunity cost of time is $20 per hour. Assuming that there are no other costs involved, use cost-benefit analysis to decide whether she should fly or drive to California. If Wendy has an important business meeting to attend and this increases her opportunity cost of time to $200 per hour, will her optimum decision change? Explain.
Textbook 
Microeconomics

Microeconomics


Edition: 1st
Authors:
Read 65 times
1 Reply
Replies
Answer verified by a subject expert
SimplemanSimpleman
wrote...
#1
Top Poster
Posts: 584
Rep: 25 0
8 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
This verified answer contains over 180 words.
1

Related Topics

whipped Author
wrote...

8 years ago
Smart ... Thanks!
jasonbourne
wrote...

Yesterday
You make an excellent tutor!
zbmallo3
wrote...

2 hours ago
Thank you, thank you, thank you!
New Topic      
Quick Reply
Bold
Italic
Underline
Strikethrough
Subscript
Superscript
Insert Math Equation
Font Name
Font Color
Align left
Center
Align right
Bullet list
Numbered list
Insert a horizontal rule
Insert a table
Insert a Quote
View source
Explore
Post your homework questions and get free online help from our incredible volunteers
  565 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 279
  
 1142
  
 1163
Your Opinion
Which is the best fuel for late night cramming?
Votes: 512
Previous poll results: What's your favorite funny biology word?