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Eloise pays $40 for a daily pass to the ice skating centre. When inside the centre, Eloise considers how many hours of training she
Eloise pays $40 for a daily pass to the ice skating centre. When inside the centre, Eloise considers how many hours of training she should complete. She expects to gain an incremental benefit of $60 from the first hour, then gain subsequent incremental benefits of $50 from the second, $30 from the third, $20 from the fourth and $5 from the fifth. The cost of each hour of training is $20. In determining how many hours to train for, the daily pass is a/an cost, M for Marginal cost, S for Sunk cost or O for Opportunity cost. Using marginal analysis, Eloise should train for how many hours? The maximum surplus for Eloise, from training the number of hours you found in part b, is $ number (with no decimal places). Type A for Average Answer to the nearest whole
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