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Macroeconomics 14th Edition by William Baumol,Alan Blinder,John Solow
Edition 14ISBN: 978-1337794985Macroeconomics 14th Edition by William Baumol,Alan Blinder,John Solow
Edition 14ISBN: 978-1337794985 Exercise 3
It takes one hour to travel from New York City to Washington, D.C., by air, but it takes five hours by bus. If the airfare is $110 and the bus fare is $70, which would be cheaper for someone whose opportunity cost of travel time is $6 per hour? For someone whose opportunity cost is $10 per hour? $14 per hour?
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In order to estimate the true cost of a ...
Macroeconomics 14th Edition by William Baumol,Alan Blinder,John Solow
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