Having trouble with this econ 201 question. Ashley, Doug and Mei-Lin are planning to travel from Halifax to Sydney. The trip takes one hour by airplane and five hours by train. The airfare is $100 and train fare is $60. They all have to take time off from work while travelling. Ashley earns $5 per hour in her job, Doug $10 per hour and Mei-Lin $12 per hour.
Calculate the opportunity cost of air and train travel for each person. Assuming they are all optimizers, how should each of them travel to Sydney?