If taking an airplane from Pittsburgh to Miami cost $600 and takes 5 hours, while taking a bus would cost $150 and takes 50 hours, the minimum value of your time that would make it worthwhile to fly would be
A) $1 per hour.
B) $3 per hour.
C) $10 per hour.
D) $12 per hour.

Question

Quizplus · Accepted Answer

To determine the minimum value of time that would make it worthwhile to fly, we need to compare the cost per hour of the airplane and the bus.

Airplane cost per hour = $600 ÷ 5 hours = $120 per hour
Bus cost per hour = $150 ÷ 50 hours = $3 per hour

Since the airplane is more expensive per hour than the bus, we need to find the value of time that makes up for the extra cost.

Let x be the minimum value of time that would make flying worthwhile.

$120 per hour - $3 per hour = $117 per hour (the extra cost of flying)

$117 per hour ÷ x hours = $1 (the extra cost of flying equals the value of your time)

x = $117 per hour ÷ $1 per hour = $117

Therefore, the minimum value of your time that would make it worthwhile to fly is $117 per hour. This means that if your time is worth more than $117 per hour, it makes sense to fly instead of taking the bus. The closest answer choice is C, $10 per hour.

If Taking an Airplane from Pittsburgh to Miami Cost $600