Suppose an airline ticket from Portland to Orlando costs $760 . A bus ticket costs $360 . Traveling by plane will take 6 hours, compared with 26 hours by bus. Other things constant, the minimum value of one's time that would induce a rational individual to fly rather than drive would be

a. $18 per hour.
b. $20 per hour.
c. $38 per hour.
d. $44 per hour.

B

Economics

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What will be an ideal response?

Economics

Which of the following is an important difference between police protection and food and explains why one is commonly provided by government while the other is not?

A) Food can easily be withheld from people who don't pay for it. B) Food is not a traditional concern of government. C) Food is too vital to be entrusted to government. D) Food producers form a powerful political lobby. E) Food provided through government would be inefficient.

Economics