Add two columns to your table in Problem 6 and list Maxs marginal utility per dollar from
Question:
Add two columns to your table in Problem 6 and list Max’s marginal utility per dollar from windsurfing and from snorkeling.
Max has $35 a day to spend on windsurfing and snorkeling and he can spend as much time as he likes doing them. The price of renting equipment for windsurfing is $10 an hour and for snorkeling is $5 an hour. The table shows the total utility Max gets from each activity.
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Step by Step Answer:
To add two columns for Maxs marginal utility per dollar from windsurfing and from snorkeling we need to first calculate the marginal utility of each a...View the full answer
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