SOLUTION: John wants to travel from P to B in India. He had two options to reach
B from P. He can either travel by air which takes 30 minutes or by a taxi
which takes 10 hours. The air tic
Algebra.Com
Question 626453: John wants to travel from P to B in India. He had two options to reach
B from P. He can either travel by air which takes 30 minutes or by a taxi
which takes 10 hours. The air ticket will cost him Nu. 5,000 and the taxi fare will costs him Nu. 1,250. Other things remaining constant, John would gain by choosing air travel if, and only if, his time were valued at more than:
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
John wants to travel from P to B in India. He had two options to reach
B from P. He can either travel by air which takes 30 minutes or by a taxi
which takes 10 hours.
The air ticket will cost him Nu. 5,000 and the taxi fare will costs him Nu. 1,250.
------
Unit cost by air: Nu 5000/(1/2) = Nu 10000 per hour
==================
Unit cost by taxi: Nu 1250/10 = Nu 125 per hour
=======================================================
Other things remaining constant, John would gain by choosing air travel if, and only if, his time were valued at more than (NU 10,000-Nu 125) = Nu 875
====================
Cheers,
Stan H.
====================
RELATED QUESTIONS
John can walk at 5 km/h and run at 15 km/h. A and B are two stops on a road. Both are 2... (answered by Theo)
John can walk at 5 km/h and run at 15 km/h. A and B are two stops on a road. Both are 2... (answered by josgarithmetic)
John can walk at 5 km/h and run at 15 km/h. A and B are two stops on a road. Both are 2... (answered by ankor@dixie-net.com)
It takes 1 h 5 min for Bob to travel from home to his office. If he wants to reach the... (answered by kibauu)
The population P of India can be modeled by the equation P(t) = 368(1.02)^t, where t is... (answered by chitra)
Joe is trying to determine the shortest route he can take to get back home. He (answered by ikleyn)
Wayne travels from A to B which is 50km. He then travels from B to C which is 40km. He... (answered by josgarithmetic)
the distance from town A to town B is 18 miles. Luke starts his journey from town A and... (answered by macston)
a.The formula for the velocity of an object is , where v is the velocity of the object,... (answered by richard1234)