Air travel from Chicago to Los Angeles costs $800 and takes four hours. A bus ticket between the cities costs $100 and takes 104 hours. Other things constant, the minimum value of one's time that would induce a rational individual to fly rather than drive would be:
A) $1 per hour.
B) $7 per hour.
C) $12 per hour.
D) $120 per hour.
Correct Answer:
Verified
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