When Cindy's income is $70 a month, the price of an hour of golf is $10 and the price of an hour of tennis is $5, Cindy plays golf for 5 hours a month and plays tennis for 4 hours a month. Then Cindy loses her math tutoring job and the amount she has to spend on golf and tennis falls from $70 to $35 a month. How many hours does Cindy now spend playing golf? For Cindy, is golf a normal good or an inferior good? How many hours does Cindy now spend playing tennis? For Cindy, is tennis a normal good or an inferior good? Hours per month Marginal utility Marginal utility from golf from tennis 1 80 40 2 60 36 40 30 4 30 10 5 20 6 10 7 6 1 To maximize her total utility, the number of hours that Cindy spends golfing is
When Cindy's income is $70 a month, the price of an hour of golf is $10 and the price of an hour of tennis is $5, Cindy plays golf for 5 hours a month and plays tennis for 4 hours a month. Then Cindy loses her math tutoring job and the amount she has to spend on golf and tennis falls from $70 to $35 a month. How many hours does Cindy now spend playing golf? For Cindy, is golf a normal good or an inferior good? How many hours does Cindy now spend playing tennis? For Cindy, is tennis a normal good or an inferior good? Hours per month Marginal utility Marginal utility from golf from tennis 1 80 40 2 60 36 40 30 4 30 10 5 20 6 10 7 6 1 To maximize her total utility, the number of hours that Cindy spends golfing is
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 4CQ
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When Cindy's income is $70 a month, the price of an hour of golf is $10 and the price of an hour of tennis
is $5, Cindy plays golf for 5 hours a month and plays tennis for 4 hours a month
Then Cindy loses her math tutoring job and the amount she has to spend on golf and tennis falls
from $70 to $35 a month.
How many hours does Cindy now spend playing golf? For Cindy, is golf a normal good or an
inferior good?
How many hours does Cindy now spend playing tennis? For Cindy, is tennis a normal good or an
inferior good?
Hours
per month
Marginal utility Marginal utility
from golf
80
IT
from tennis
40
60
36
40
30
30
10
20
5
10
2
1
To maximize her total utility, the number of hours that Cindy spends golfing is](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7aaa0f46-bce4-44e6-a785-fb5e1d3a80b8%2F8ee2f0dd-5244-4318-abc0-9b3afe0bb564%2Fful198a_processed.png&w=3840&q=75)
Transcribed Image Text:=
When Cindy's income is $70 a month, the price of an hour of golf is $10 and the price of an hour of tennis
is $5, Cindy plays golf for 5 hours a month and plays tennis for 4 hours a month
Then Cindy loses her math tutoring job and the amount she has to spend on golf and tennis falls
from $70 to $35 a month.
How many hours does Cindy now spend playing golf? For Cindy, is golf a normal good or an
inferior good?
How many hours does Cindy now spend playing tennis? For Cindy, is tennis a normal good or an
inferior good?
Hours
per month
Marginal utility Marginal utility
from golf
80
IT
from tennis
40
60
36
40
30
30
10
20
5
10
2
1
To maximize her total utility, the number of hours that Cindy spends golfing is
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