Question

Suppose a very successful entrepreneur earns $5,000 every hour that she spends working. As part of...

Suppose a very successful entrepreneur earns $5,000 every hour that she spends working. As part of her business, she needs to travel to different locations. For a particular trip, which takes 3 hours of total flight time, she can either rent a private jet or travel there on a commercial airline. The private jet costs $10,000 per trip, but there is virtually no wait time; she can arrive to the airport and leave immediately. Whereas the commercial airline costs $500 per ticket, but she has to arrive to the airport two hours before her flight. Suppose that she can work on the airplane in either case. With this information, we can assert that:"

The total cost of flying on the commercial airline is lower than the total cost of flying on the private jet.

The total cost of flying on the commercial airline equal to the total cost of flying on the private jet.

The total cost of flying on the commercial airline is higher than the total cost of flying on the private jet.

None of the available options are correct.

Homework Answers

Answer #1

Ans - The total cost of flying on the commercial airline is higher than the total cost of flying on the private jet.

Explanation:

When she choose commercial airline it cost her = $10,500

= 2*5000 = 10,000 ( as the waiting time of 2 hours and at this time she can work and earn $5000 each hour)

+ $500 ( as ticket cost her $500) .

When she choose private jet, it cost her only $10,000

As $10,500> $10,000

So the  total cost of flying on the commercial airline is higher than the total cost of flying on the private jet.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose a very successful entrepreneur earns $5,000 every hour that she spends working. As part of...
Suppose a very successful entrepreneur earns $5,000 every hour that she spends working. As part of her business, she needs to travel to different locations. For a particular trip, which takes 3 hours of total flight time, she can either rent a private jet or travel there on a commercial airline. The private jet costs $10,000 per trip, but there is virtually no wait time; she can arrive to the airport and leave immediately. Whereas the commercial airline costs $500...
"Suppose a very successful entrepreneur earns $5,000 every hour that she spends working. As part of...
"Suppose a very successful entrepreneur earns $5,000 every hour that she spends working. As part of her business, she needs to travel to different locations. For a particular trip, which takes 3 hours of total flight time, she can either rent a private jet or travel there on a commercial airline. The private jet costs $10,000 per trip, but there is virtually no wait time; she can arrive to the airport and leave immediately. Whereas the commercial airline costs $500...
Scenario 13-6 Ziva is an organic lettuce farmer, but she also spends part of her day...
Scenario 13-6 Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As a consultant, Ziva helps people organize their houses. Due to the popularity of her home-organization services, Farmer Ziva has more clients requesting her services than she has time to help if she maintains her farming business. Farmer Ziva charges $25 an hour for her home-organization services. One spring day, Ziva spends 10 hours in her fields planting $130...
Juanita is deciding whether to buy a skirt that she wants, as well as where to...
Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $129 for the skirt: Store Travel Time Each Way Price of a Skirt (Minutes) (Dollars per skirt) Local Department...
Facts from Client Interview Tumutch and Lotta Bolloni have been married for four years. They both...
Facts from Client Interview Tumutch and Lotta Bolloni have been married for four years. They both work very hard at their jobs – Lotta being an accountant and Tumutch working as a construction manager. They decide to splurge and look into booking an all-inclusive vacation to the enchanting Fantasy Island, in Fiji for February 2020. The Bollonis do some research into different travel packages and get quotes from various agencies. They narrow their choices down to three possibilities: Travelcations &...
. A manufacturing company produces diesel engines in four factories located in Tucson, Seattle, Baltimore, and...
. A manufacturing company produces diesel engines in four factories located in Tucson, Seattle, Baltimore, and Detroit. Three trucking firms purchase these engines for their plants located in Nashville, Miami, and Charleston. The supplies and demands, along with the per engine transportation costs in dollars are given below:                                                                           Plant                                                               Nashville             Miami         Charleston         Supply              __________________________________________________________________                         Tucson                800               1100                400                  35    Factory            Seattle                 550               950                 600                  35                        ...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...
UPS COMPETES GLOBALLY WITH INFORMATION TECHNOLOGY United Parcel Service (UPS) started out in 1907 in a...
UPS COMPETES GLOBALLY WITH INFORMATION TECHNOLOGY United Parcel Service (UPS) started out in 1907 in a closet-sized basement office. Jim Casey and Claude Ryan—two teenagers from Seattle with two bicycles and one phone—promised the “best service and lowest rates.” UPS has used this formula successfully for more than a century to become the world’s largest ground and air package-delivery company. It’s a global enterprise with nearly 400,000 employees, 96,000 vehicles, and the world’s ninth largest airline. Today UPS delivers 16.3...
PRODUCTION PLANNING AT VIKTOR LENAC SHIPYARD Professor Giorgio Sinković and Professor David M. Currie prepared this...
PRODUCTION PLANNING AT VIKTOR LENAC SHIPYARD Professor Giorgio Sinković and Professor David M. Currie prepared this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT