Reference no: EM13172287

Joe enjoys fishing and goes out about 20 times per year. One day, his wife, Sarah, told him that fishing is simply too expensive a hobby. "I think that you should stop going fishing" she exclaimed. "I did a little calculation, and figured that it costs us about $28.75 for every fish that you catch because you usually catch about 20 fish per trip. Besides, I always end up having to clean them. We would be much better off buying ready-to-cook fish from the local fish market."
Comment on Sarah's remarks. Do you agree with her argument? Explain. (Following below are cost estimates)
Boat (cost =$30,000, usable for 10 years, 20 outings per year)$150
Boat fuel $45
Dock fees and insurance for boat (avg per trip) $130
Travel expense to and from lake $130
(100 miles @ $.25 per mile: gas, oil, tires, $.18, depreciation and insurance $.07)
New fishing equipment purchases this year (prorated over 20 trips) $25
Annual fishing license $35
Bait and misc. $50
Food $40
Beverages $35
Traffic fin eon way to lake $40
Total cost per trip $575