a) Barb and Betty hope to go to Miami Beach for spring break one week. Since bot
ID: 1222496 • Letter: A
Question
a) Barb and Betty hope to go to Miami Beach for spring break one week. Since both are rational economic students, the have calculated the cost of flying versus driving. Flying: Round-trip airline tickets are $150 per person, and a car rental is $25 per day. Driving: Gas is $100, lodging one way is $150 for a double room, and wear and tear on the car is $200. Which option costs less? If Barb hates driving, should this distaste be included in the cost of the trip? b) Would an econ class and a math class be compliments or substitutes (in the economic sense – that is, an increase in the price of one changes the demand for another)? Explain.
Explanation / Answer
a.Driving is cheaper it cost- 300 where in flying its 475. If one of them hates driving then it has to be included in teh cost of trip.then preference to be given where both behave and compensate the same worth.
b. Econ and maths ae two different subjects and give diffrent outcomes and insights. both compliment each other and cant be substitute at all. teh demand for both are different and it does not affect with each other demand fluctutaion. both are equally imporatnt and required to get complete eductaion.
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