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Suppose you’re bowling with friends
Suppose you’re bowling with friends. You’ve already played one game and are trying to decide whether to play another. Each game costs $6 per person, plus a one-time rental fee of $6 for the bowling shoes. It would take another hour to play the next game, which would make you late for work. Missing an hour of work would mean that you would lose pay at a rate of $14 per hour.
Instructions: Round your answer to the nearest whole number.
Based on this information, how much would you have to enjoy the next bowling game, expressed in terms of dollars, to play another game? $ .
Expert Solution
We have already played one game. This means that one-time rental for bowling shoes has already been paid.
In order to play the second game, we do not have to incur this expenditure.
Each game costs $6 per person.
So, to play another game, we have to spend $6.
It takes one hour to play the game.
However, if we play the second game, we would be late for work by one hour.
The wage rate is $14 per hour.
So, playing another game implies that we have to forego wage of $14.
Calculate total cost of playing another game -
Total cost = Per person cost of game + Foregone wage = $6 + $14 = $20
Thus,
The total cost of playing another game is $20.
As we have to incur $20 on playing another game, we must get enjoyment of $20 from the another game to justify playing it.
Thus,
The correct answer is the $20.
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