Solve. -A Standard Train Ticket in a Certain City Costs $1.50

question 54

Multiple Choice

Solve.
-A standard train ticket in a certain city costs $1.50 per ride. People who use the train also have the option of purchasing a frequent-rider pass for $15.00 each month. With the pass, a ticket costs only $0.75 per ride. How many train rides in a month make the frequent-rider pass a better deal than standard train tickets?

• A) 22 or more rides
• B) 19 or more rides
• C) 21 or more rides
• D) 20 or more rides

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Definitions:

Labor

The human effort, physical or mental, used in the production of goods and services.

Marginal Product

Marginal Product is the additional output resulting from the use of one more unit of a production input, holding all other inputs constant.

Units of Output

The quantities of a good or service produced by a firm or economy.

Diminishing Returns

is an economic principle stating that if one input in the production of a commodity is increased while other inputs are held fixed, a point will eventually be reached at which additions of the input yield progressively smaller, or diminishing, increases in output.