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Minimum value of one time

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Reference no: EM131191601

An airline ticket from Seattle to Miami costs $760. A bus ticket costs $360. Traveling by plane will take 6 hours, compared with 26 hours by bus. Other things constant, the minimum value of one's time that would induce a rational individual to fly rather than drive would be... the answer is $20 per hour but I don't know how they got that.

Reference no: EM131191601

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