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What is cindy marginal utility from golf and from tennis

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Reference no: EM132114726

Question: Cindy takes a Club Med vacation, the cost of which includes unlimited sports activities. With no extra charge for golf and tennis, Cindy allocates a total of 4 hours a day to these activities.

a. How many hours does Cindy play golf and how many hours does she play tennis?

b. What is Cindy's marginal utility from golf and from tennis?

c. Why does Cindy equalize the marginal utilities rather than the marginal utility per dollar from golf and from tennis?

Problem: Cindy has $70 a month to spend, and she can spend as much time as she likes playing golf and tennis. The price of an hour of golf is $10, and the price of an hour of tennis is $5. The table shows Cindy's marginal utility from each sport.

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Reference no: EM132114726

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