opportunitycost hashtag performance

#nycbus #bus #masstransit #opportunitycost Let’s calculate the cost of those delays: • Annual bus rides: 678.5 million • Median salary for bus riders: ~$38,250/year (it’s higher, but this is half the NYC median) • Hourly wage: ~$18.40/hour • Traffic slows buses by about 30% The average NYC bus trip takes 39.6 mins. A 30% traffic delay adds another 11.88 mins per ride. That’s 0.198 hours of lost time per trip. ⏱️ Multiply that delay by the value of time: 0.198 hours × $18.40 = $3.64 lost per ride. 💸 Multiply that by the total annual bus rides: $3.64 × 678.5 million = $2.47 BILLION lost annually by NYC bus riders due to slow car traffic. 🚦(time value of money)

#greenscreen the most important lesson to learn from economics on top of compound interest is the lesson of opportunity cost because of doing something and giving up the potential of doing something else with that money such as consuming versus invest investing. #OpportunityCost.

scarcity means i can’t have everything #opportunitycost #apmacroeconomics #scarcity