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Question: 1 bob has decided to go skiing for the weekend...

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1. Bob has decided to go skiing for the weekend, but (absentminded professor that he is) he has forgotten his skis. He is considering three options: (1) stay indoors and read economics texts; (2) ski for two days and read economics texts one day; (3) ski for three days and forget economics. The costs of skiing are as follows: Transportation $100 $200 $ 20 per day $ 25 per day Lodging Ski pass Ski rental Bob has also found out that the resort has a special three-day pass including ski rental for $75. Assume that Bob has already reached the ski slopes and that he cannot cancel his room reservations. a. What are the costs of the three options? b. What is the cost of skiing a third day? Suppose Bob figures it is worth about $30 a day for him to ski. What should he do? c.
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