Question

Every day, 500 airplanes in San Francisco incur an additional 30 minutes of airport delays when flying into or out of the airport. In Chicago, the delays amount to 15 minutes for 1,200 airplanes. If the price of time is $30/hour in San Francisco and $20/hour in Chicago, which airport incurs the largest opportunity cost?
a. San Franciso
b. Chicago
c. neither

Answer 1

A. San Francisco is the largest opportunity cost

Answer 2

The correct answer is option b. The Chicago airport incurs the largest opportunity cost.

What is an expression?

Expression in maths is defined as the collection of the numbers variables and functions by using signs like addition, subtraction, multiplication and division.

The cost of the two airports will be calculated as:-

Chicago makes $5250 because

15/4  =  3.75 (divided by 4 because 15 mins is a quarter of an hour) and

3.75  x  1200  =  5250

For San Francisco airport:-

20/2  =  10 (divided by 2 because 30 mins are half an hour)

500  x  10  =  5000

So Chicago makes $5250

San Francisco makes $5000

From the above calculations, we can see that the charges of Chicago airport are higher.

Therefore the correct answer is option b. The Chicago airport incurs the largest opportunity cost.

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