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 $10. Complete the table to show the number of hours that Cindy spends playing tennis when she spends a given number of hours golfing. Table 1 shows the marginal utility Cindy gets from golf and tennis. Table 2 shows some combinations of golf and tennis that Cindy can afford. Calculate Cindy's marginal utility per dollar from golf and tennis and fill in the columns in Table 2. >>> Answer to 1 decimal place. To maximize her total utility, the number of hours that Cindy spends golfing is and the number of hours she spends playing tennis is Table 1 Hours per month Table 2 Hours spent golfing 5 4 3 Hours 5 4 3 1 2 3 4 5 6 7 Marginal utility from golf 80 60 40 30 20 10 6 Golf ($10 per hour) Marginal utility per dollar Hours spent playing tennis Marginal utility from tennis Hours 2 3 4 40 36 30 10 5 2 1 Tennis ($10 per hour) Marginal utility per dollar

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 $10. Complete the table to show the number of hours that Cindy spends playing tennis when she spends a given number of hours golfing. Table 1 shows the marginal utility Cindy gets from golf and tennis. Table 2 shows some combinations of golf and tennis that Cindy can afford. Calculate Cindy's marginal utility per dollar from golf and tennis and fill in the columns in Table 2. >>> Answer to 1 decimal place. To maximize her total utility, the number of hours that Cindy spends golfing is and the number of hours she spends playing tennis is Table 1 Hours per month Table 2 Hours spent golfing 5 4 3 Hours 5 4 3 1 2 3 4 5 6 7 Marginal utility from golf 80 60 40 30 20 10 6 Golf ($10 per hour) Marginal utility per dollar Hours spent playing tennis Marginal utility from tennis Hours 2 3 4 40 36 30 10 5 2 1 Tennis ($10 per hour) Marginal utility per dollar

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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