Joe enjoys fishing and goes out about 20 times per year. One day, his wife, Sarah, told him that fishing is simply too expensive a hobby. “I think that you should stop going fishing,” she exclaimed. “I did a little calculation, and I figured that it costs us about $28.75 for every fish that you catch because you usually catch about 20 fish per trip. Besides, I always end up having to clean them. We would be much better off buying ready-to-cook fish from the local fish market.”

Comment on Sarah’s remarks. Do you agree with her argument? Explain. (Following below are her cost estimates.)

Boat  (cost 5 $30,000, usable for 10 years, 20 outings per year)	$150
Boat fuel	45
Dock fees and insurance for the boat (average per trip)	130
Travel expenses to and from the lake  (100 miles @ $0.25 per mile: gas, oil, and tires, $0.18, and depreciation and insurance, $0.07)	25
New fishing equipment purchases this year (prorated over 20 trips)	25
Annual fishing license	35
Bait and miscellaneous expenses	50
Food	40
Beverages	35
Traffic fine received on the way to the lake	40
Total cost per trip	$575

Answer rating: 100% (QA)

This is true that Joes cost for each trip is given as ... View the full answer