Question
Jane enrolled in an online class to learn a new language. The online class will cost Jane $150. After enrolling in the class, Jane needs
Jane enrolled in an online class to learn a new language. The online class will cost Jane $150. After enrolling in the class, Jane needs to consider how many hours she is willing to spend on learning a new language. For the first hour, Jane will get an incremental benefit of $85. Subsequently, she will only get incremental benefits of $74 from the second hour, $55 from the third, $30 from the fourth and $15 from the fifth. The cost to Jane, mainly due to fatigue and boredom, is $6 for the first hour, $12 for the second hour, $19 for the third hour, $29 for the fourth hour and $40 for the fifth hour.
Using marginal analysis, Jane should spend how many hours learning? .
The maximum surplus for Jane, from spending the number of hours learning which you found in part b, is $. Answer to the nearest whole number (with no decimal places).
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