Question
Joe enjoys fishing and goes out about 20 times per year. One day, his wife Sarah, told him that fishing is simply too expensive a
Joe enjoys fishing and goes out about 20 times per year. One day, his wife Sarah, told him that fishing is simply too expensive a hobby. I think you should stop going fishing, she exclaimed. I did a little calculation, and I figured that it cost us about $28.75 for every fist that you catch because you usually catch about 20 fish per trip. Besides, I always end up having to clean them. We would be much better off buying ready-to-cook fish from the local fish market.
Comment on Sarahs remark. Do you agree with her argument? Explain
| Boat (cost = $30,000, usable for 10 years, 20 outings per year) | $150 |
| Boat Fuel | 45 |
| Dock fees and insurance for boat (average per trip) | 130 |
| Travel expenses to and from the lake (100 miles @ $0.25 per mile: gas, oil, and tires, $0.18, and depreciation and insurance, $0.07) | 25 |
| New fishing equipment purchases this year (Prorated over 20 trips) | 25 |
| Annual fishing license | 35 |
| Bait and miscellaneous expenses | 50 |
| Food | 40 |
| Beverages | 35 |
| Traffic fine received on the way to the lake | 40 |
| Total Cost per trip | $ 575 |
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