A bus ticket between two cities costs $150 and the trip will take 25 hours, whereas an

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A bus ticket between two cities costs $150 and the trip will take 25 hours, whereas an airplane ticket costs $450 and takes five hours. Kathy values her time at $12 per hour, and Rachel values her time at $18 per hour. Will Kathy take the bus or the plane? Which will Rachel take? Explain.

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Economics Private And Public Choice

ISBN: 9780357133996

17th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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