By taking the train, Alain can travel from Paris to Lille in 1 hour. The same trip

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By taking the train, Alain can travel from Paris to Lille in 1 hour. The same trip takes 5 hours by bus. The train costs

€80 and the bus €20. When Alain is not traveling he can work and earn €25 per hour.

a. What are the opportunity costs of traveling by bus and train for Alan?

b. Will the answer change if another person chooses not to travel and work for €10 per hour? What is the new opportunity cost?

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Macroeconomics

ISBN: 9780367752279

Global Edition

Authors: Acemoglu Daron, Laibson David, List John.

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Question Posted: Nov 18, 2024 03:01 AM

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By taking the train, Alain can travel from Paris to Lille in 1 hour. The same trip

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Macroeconomics

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