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hodyreva [135]
3 years ago
7

Melanie has a choice of driving or flying from Durham, North Carolina to Knoxville, Tennessee for a one-day business trip. If sh

e travels by air, she will be able to work seven hours in Knoxville, while if she drives, she will only have time to work four hours once there. Her expected income from each hour of work in Knoxville is $40. If Melanie a rational decision maker, she will chose to fly if and only if the price differential (air cost minus driving cost) is less than
a. $40.
b. $120.
c. $160.
d. $280.
Business
1 answer:
Elis [28]3 years ago
4 0

Answer:

Correct option is (b)

Explanation:

Time available for work if Melanie chooses to travel by air = 7 hours

Income per hour = $40

Total income earned if chooses to travel by air = 40 × 7 = $280

Time available for work if Melanie chooses to drive = 4 hours

Total income earned if chooses to drive = 40 × 4 = $160

Price differential = 280 - 160 = $120

As a rational decision maker, Melanie will choose to fly over drive only if her price differential is below $120. She will choose to drive if price differential is above $120.

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Alice is single and self-employed in 2019. Her net business profit on her Schedule C for the year is $150,000. What is her self-
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3 years ago
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A stock expects to pay a dividend of $5.49 per share next year. Dividends are expected to grow at 20 percent per year for the fo
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During August, the Filtering Department of Speedwell, Inc. Had a beginning Work-IN Process Inventory balance of 160 units with c
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