Hilton Santiago
08/04/2024 · Middle School

QUESTION 3 Suppose an airline ticket from Portland to Orlando costs \( \$ 760 \). A bus ticket costs \( \$ 360 \). Traveling by plane will take hours, compared with 26 hours by bus. Other things constant, the minimum value of one's time that would induce a rational individual to fly rather than drive would be a. \( \$ 44 \) per hour. b. \( \$ 38 \) per hour. c. \( \$ 20 \) per hour. d. \( \$ 18 \) per hour.

Upstudy ThothAI Solution

Tutor-Verified Answer

Quick Answer

The minimum value of time that would make flying more attractive than taking the bus is approximately \( \$ 18 \) per hour.

Step-by-step Solution

Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text

Enter your question here…

By image
Re-Upload
Uploaded Files
xxxx.png0%
Submit
📸 STUDY CAN BE A REAL STRUGGLE
Why Not UpStudy It?
Select your plan below
Premium

You can enjoy

  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to answer and
    solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic
  • Limited Solutions