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