Question
N1 Imagine that you are planning to visit your family in Chicago. You can take a train or a plane. The plane ticket cost 300
N1
Imagine that you are planning to visit your family in Chicago. You can take a train or a plane. The plane ticket cost 300 US dollars. Traveling by air takes 2 hours each way. Now another option to get to Chicago would be by taking Amtrak out of NYC that takes 12 hours each way. This form of Transporation cost 200 US dollars round trip. Which form of Transporation should you use. First calculate the opportunity cost between the two options of travel to Chicago from NYC. Show the math
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The World Economy Geography, Business, Development
Authors: Frederick P. Stutz, Barney Warf
6th edition
321722508, 321722507, 978-0321722508
