Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 30 Oct 2017 My Price 6.00

Cindy’s tennis club

Explain why, if Cindy equalized the marginal utility per hour of golf and tennis, she would not maximize her utility.

Cindy’s tennis club raises its price of an hour of tennis from $5 to $10, other things remaining the same.

Problem 17

Cindy has $70 a month to spend, and she can spend as much time as she likes playing golf and tennis. The price of an hour of golf is $10, and the price of an hour of tennis is $5. The table shows Cindy’s marginal utility from each sport.

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Oct 2017 08:10 PM My Price 6.00

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