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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 snorkelling at each number of hours per day. Does Max's marginal utility from snorkelling obey the principle of diminishing marginal utility (DMU)?

Microeconomics, Economics

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