Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 408 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Nov 2017 My Price 7.00

Cindy’s marginal utility

Cindy takes a Club Med vacation, the cost of which includes unlimited sports activities. With no extra charge for golf and tennis, Cindy allocates a total of 4 hours a day to these activities.

a. How many hours does Cindy play golf and how many hours does she play tennis?

b. What is Cindy’s marginal utility from golf and from tennis?

c. Why does Cindy equalize the marginal utilities rather than the marginal utility per dollar from golf and from tennis?

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 29 Nov 2017 10:11 PM My Price 7.00

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