<PRE><B>Question 626453</B>
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.
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Unit cost by air: Nu 5000/(1/2) = Nu 10000 per hour
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Unit cost by taxi: Nu 1250/10 = Nu 125 per hour
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 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
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Cheers,
Stan H.
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</PRE>