Should edith and mathew continue to use highway for travel

Assignment Help Macroeconomics
Reference no: EM13186813

To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed out that traffic jams on the highway can lead to long delays making the trip 45 minutes. He preferred to travel along Shea Boulevard, which was longer (35 minutes), but rarely had traffic jams. Edith agreed that in case of traffic jams, Shea Boulevard was a reasonable alternative. Neither of them knows the state of the highway ahead of time.
After driving to work on the I-20 highway for 1 month (20 workdays), they found the highway to be jammed 3 times. Assuming that this month is a good representation of all months ahead, should Edith and Mathew continue to use the highway for traveling to work?
How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month?
How would your conclusion change if Mathew purchased a new smart-phone app that could show the status of the highway traffic prior to their drive each morning, thus reducing the probability of them getting into a jam down to only 1day per month (where on this day, the app showed no traffic jam, but a jam developed in the meantime as they were driving along the highway).

Reference no: EM13186813

Questions Cloud

What is cost of electrical energy over lifetime of battery : Retail electrical energy in Michigan costs $0.12/kwh. Your laptop battery fully charged stores 40 watt hours. On avergae a battery can sustain 500 full charge/discharge cycles. The cost of the battery is $100. What is the cost of electrical energy..
Calculate industry output and market share at current price : Assume you are the manager of Abba Cable Company, which provides commercial communication services to the town of Canyon Lake, Texas. Because of licensing restrictions in the market, only your company and two others (Babba and Cabba) are allowed t..
State what is the molarity of sulfuric acid in the solution : Unit Conversions A solution (? = 1.03 g/mL) that is a mixture of water and 5wt% sufuric acid (H2SO4) ?ows through a 45-m long pipe with a 6.0 cm diameter at a rate of 87 L/min. a. What is the molarity (mol/L) of sulfuric acid in the solution?
Explain how many moles of molecular oxygen are consumed : How many moles of molecular oxygen are consumed by the complete combustion of one mole of the following compound?
Should edith and mathew continue to use highway for travel : To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed o..
Define drop of oleic acid or benzene solution : When performing your experiment, you add your first drop of oleic acid/benzene solution, and a lens forms immediately. What is wrong with your setup
Explain the heat is removed in a constant pressure process : The energy (in kJ) that is removed as heat from this system when the Carnot refrigerator from part a) contains 340. g of R-12. Assume the heat is removed in a constant pressure process.
What is moorea expected level of consumption : Moorea spends all of her income on Mochi Frozen Yogurt which costs $1 per cup. She makes $400 per month but lives in a bad neighborhood and is robbed of half her money 20% of the time. Assume YN and YR represent her consumption of yogurt in cups i..
Explain how many grams of xe are needed to inflate a bag : Assuming ideality, how many grams of Xe are needed to inflate a bag with a volume of 867 mL at a pressure of 1.29 bar

Reviews

Write a Review

Macroeconomics Questions & Answers

  Elucidate the difference between the government purchases

Elucidate the difference between the government purchases multiplier and the net tax multiplier. If the MPC falls, what happens to the tax multiplier.

  Explain how you think macro-economics applies to walmart

Explain how you think macro-economics applies to Walmart. What would it contribute to your understanding of this organization's prospects.

  Explain difference between economics and political economy

Google Books has a new feature that allows users to search for the historical use of specific words within the publications that have been digitalized. In the picture below I plot the employment of the terms Economics and Political Economy since t..

  You manage a us based company that makes

You manage a US based company that makes shoe laces that you sell in a highly competitive marke

  How should the products be distributed

Prepare a marketing plan proposal to sell the cleaning products in one country located within either of those two regions. You should make sure to answer the following questions in your marketing plan: What alterations might have to be made to the ..

  Explain why does the burden of sales tax

Explain why does the burden of sales tax fall completely on consumer when the price elasticity of demand is perfectly inelastic; the seller when perfectly elastic. and the prefect inelastic supply and perfectly elastic supply.

  Implications of us negotiated agreement

In 1981, the United State negotiated an contract with the Japanese. The contract called for Japanese auto companies to limit exports to the United State.

  Computation for spell of unemployment

How many "spells" of unemployment occur each year in this economy? What percentage of the "spells" are only one month long?

  Production and profit decisions of firm

A firm uses a single plan with costs C = 160 + 16Q + .1Q 2  and faces the price equation P = 96 - .4Q. The firm's production manager claims that the firm's average cost of production is minimized at an output of 40 units.

  Analysis of price elasticity and price increase

In an article about the financial problems of the USA today, Newsweek reported that the paper was losing about $20 million a year.

  Behavior of firms in oligopoly

Suppose that the software market currently has one firm operating -Microhard. What contract should be writen between the bank and Newvel?

  Elucidate considerations would guide a profit maximizing

Elucidate considerations would guide a profit maximizing company in deciding how to allocate its research budget.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd