(Answered) Question max has 35 a day to spend on windsurfing and

Economics

Question: Max has $35 a day to spend on windsurfing and snorkelling and he can spend as much time as he likes doing them. The price of renting equipment for windsurfing is $10 an hour and for snorkelling is $5 an hour. The table shows the total utility Max gets from each activity.

Hours per day Total utility from Total utility from
windsurfing snorkelling

1 120 40

2 220 76

3 300 106

4 360 128

5 396 140

6 412 150

7 422 158

Calculate Max's marginal utility from windsurfing at each number of hours per day. Does Max's marginal utility from windsurfing obey the principle of diminishing marginal utility?

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Microeconomics, Economics

Category:- Microeconomics
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