Question : Ryan wants to rent an apartment. The following table shows : 4717
Ryan wants to rent an apartment. The following table shows the monthly rent of five apartments and the monthly commuting time to work from each apartment. Ryan's opportunity cost of time is $15 per hour.
Refer to the table above. What is the total cost incurred per month if Ryan rents Apartment 5?
|
Apartment |
Commuting Time (hours/month) |
Rent ($/month) |
|
1 |
40 |
1,500 |
|
2 |
20 |
1,750 |
|
3 |
10 |
2,000 |
|
4 |
4 |
2,210 |
|
5 |
1 |
2,250 |
Solution
5 (1 Ratings )
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