Suppose the price of an airline ticket from dallas to boston costs $600. a bus ticket costs $150. traveling by plane takes 6 hours compared with 51 hours by bus. other things constant, an individual would gain by choosing air travel if, and only if, his time were valued at more than

The individual would gain by choosing air travel if, and only if, his time were valued at more than $10 per hour.

Explanation

Cost of airline ticket = $600 and cost of bus ticket = $150

So, the money saved = $600 - $150 = $450

Now,  traveling by plane takes 6 hours compared with 51 hours by bus. So, extra travel time = (51 - 6) hours = 45 hours

Thus,

(Money saved / Extra travel time) dollar/hour

So, the individual would gain by choosing air travel if, and only if, his time were valued at more than $10 per hour.

step-by-step explanation:

saving = more money

step-by-step explanation:

if you have 100 bucks, and you want to buy a candy bar, even if you have one at home, if you choose not to buy it, you save.

~courtney