Chapter1: Making Economics Decisions
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![Question 30
Use the table below to answer the following questions.
Windsurfing equipment rents for $10 per hour and snorkeling equipment rents for
$5 per hour.
0.67
10
1.33
1.0
1.5
Table 8.3.1
Hours
Total Utility
per Month from Windsurfing
1
2345
60
110
150
180
200
Total Utility
from Snorkeling
20
38
53
64
70
Consider Devon's total utility from snorkeling and windsurfing in Table 8.3.1.
Suppose Devon's total income is $35. If the price of windsurfing rises to $20 per
hour, what is Devon's price elasticity of demand for windsurfing?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb6f624ec-6817-4f40-92a6-3b0876ba00b2%2F9fae6e10-933d-4d8b-80ac-5032186801a9%2Fc28q8yb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 30
Use the table below to answer the following questions.
Windsurfing equipment rents for $10 per hour and snorkeling equipment rents for
$5 per hour.
0.67
10
1.33
1.0
1.5
Table 8.3.1
Hours
Total Utility
per Month from Windsurfing
1
2345
60
110
150
180
200
Total Utility
from Snorkeling
20
38
53
64
70
Consider Devon's total utility from snorkeling and windsurfing in Table 8.3.1.
Suppose Devon's total income is $35. If the price of windsurfing rises to $20 per
hour, what is Devon's price elasticity of demand for windsurfing?
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