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Shavaila18
06.05.2020 •
Business
You can either take a bus or drive your car to work. A bus pass costs $5 per week, whereas driving your carto work costs $60 weekly (parking, tolls, gas, etc.). You spend half an hour less on a one-way trip in your carthan on a bus. How would you prefer to travel to work if your wage rate is $10 per hour? Will you change3 your preferred mode of transportation if your wage rate rises to $20 per hour? Assume you work five days aweek and time spent riding on a bus or driving a car does not directly enter your utility.
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Ответ:
Explanation:
At a wage of $10/hour
Cost of a bus pass - $5
Two way trip =$10
Weekly bus trip = 10*5 -$50 (to & fro)
Extra time spent with bus 5hr (to & fro)
(leisure time are charged at wage rate )
Extra wage forgone with bus = 10*5= $50
the cost of earning extra if i drive =$60
Cost outweighs benefit
I will prefer to go by bus.
But if wages increase to $20
Leisure time valued at $20, Extra wage forgone = 20*5 = 100
Cost of earning extra if i drive by car = $60
If i drive the car . i will save extra time that worth a benefit of $40/week
If the wage increase to$20 , i will prefer to drive my car.
Ответ:
28 and congrats on that buddy