Consider the following table showing the utility of different numbers of days skied each year:

Construct a table showing the marginal utility for each day of skiing. Assuming that there are 1 million people with preferences shown in the table, draw the market demand curve for ski days. If lift tickets cost $40 per day, what are the equilibrium price and quantity of days skied?

Transcribed Image Text:

Number of days skied Total utility ($) 0 70 110 146 176 196 196 0 6