Use the table below to answer the following questions. Table 8.2.1 Houn Spent Zotal Unity trom Sailing Unity Inm Sing 70 110 100 140 170 140 190 150 Refer to Table 8.2.1. Consider Sam's utility from sailing and skiing. The price of sailing is $10 per hour and the price of skiing is $20 per hour; Sam's income to spend on these activities is $80. In consumer equilibrium, Sam will sail for Select one: O A. 3 hours and ski for 2 hours. O B. 2 hours and ski for 4 hours. O C. 4 hours and ski for 2 hours. O D. 4 hours. 8 hours

Use the table below to answer the following questions. Table 8.2.1 Houn Spent Zotal Unity trom Sailing Unity Inm Sing 70 110 100 140 170 140 190 150 Refer to Table 8.2.1. Consider Sam's utility from sailing and skiing. The price of sailing is $10 per hour and the price of skiing is $20 per hour; Sam's income to spend on these activities is $80. In consumer equilibrium, Sam will sail for Select one: O A. 3 hours and ski for 2 hours. O B. 2 hours and ski for 4 hours. O C. 4 hours and ski for 2 hours. O D. 4 hours. 8 hours

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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