Question 36 Consider the true costs of traveling from Tucson to San Diego by plane or train. Suppose . The train ticket costs $200 and takes 24 hours round-trip. . The plane costs $300 and takes 4 hours round-trip. Please use the marginal analysis to analyze whether you should take the plane to San Diego. At how much $/hour do you value your time that would make you indifferent between these two options? Please briefly explain your reason.

Question 36 Consider the true costs of traveling from Tucson to San Diego by plane or train. Suppose . The train ticket costs $200 and takes 24 hours round-trip. . The plane costs $300 and takes 4 hours round-trip. Please use the marginal analysis to analyze whether you should take the plane to San Diego. At how much $/hour do you value your time that would make you indifferent between these two options? Please briefly explain your reason.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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