Economics - Aplia?

Answers:0   |   LastUpdateAt:2012-08-10 00:14:02  

Asked at 2012-08-10 00:14:02
Joni drives a yellow cab in Seattle , where you can charge a fee of $ 1.25 per mile. She is willing to work 8 hours a day. During an 8 hours, get paid for driving a total of 300 kilometers. The cost of operating the taxi is $ 0.25/mile on gas , $ 0.40/mile in general maintenance, and $ 50 in insurance each day. Joni has the option of working at McDonalds for 8 hours a day , earning $ 5.75 an hour . Others working at McDonalds would like to be able to drive a taxi, but the government will not give any more licenses for taxi drivers.

Joni has no other employment options. What is your economic daily gain to drive a taxi?

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