Sally wants to visit Orlando during the week-long spring break. She can get there by bus in two and one-half days or fly there in four hours. The round trip by bus and plane would cost $20 and $200, respectively. Which of the following is not true?
A) She would compare the marginal utility of per dollar spent on air travel with that spent on bus travel.
B) Depending on what else she could do during that week, it may be economically rational for her not to go at all rather than go by bus.
C) The true cost of going to Orlando is either the time or the money she spends traveling, whichever she values more.
D) The more she enjoys Orlando, the more economically rational it becomes for her to fly there instead of taking the bus.
E) It may be rational for her to fly and rational for others to take the bus.
Correct Answer:
Verified
Q127: If Joel buys ten floppy disks, which
Q128: The following diagram shows the market equilibrium
Q131: Which of the following people is least
Q134: Ed is willing to pay a maximum
Q135: The following table shows Reggie's demand for
Q143: The cost of consumption has two components:
A)the
Q150: A consumer might buy from a high-priced
Q151: Fred truthfully tells a car dealer that
Q153: The consumer surplus derived from the last
Q170: A consumer's willingness to pay additional money
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents