Cindy loses her math tutoring job and the amount she has to spend on golf and tennis
Question:
Cindy loses her math tutoring job and the amount she has to spend on golf and tennis falls from $70 to $35 a month. With the price of an hour of golf at $10 and of tennis at $5, calculate the change in the hours she spends playing golf.
For Cindy, is golf a normal good or an inferior good? Is tennis a normal good or an inferior good?
Make a table that shows Cindy’s affordable combinations of hours playing golf and tennis. If Cindy increases her expenditure to $100, describe how her consumption possibilities change.
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Step by Step Answer:
In order to calculate the change in the hours Cindy spends playing golf we need to determine the combination of golf and tennis hours Cindy could have afforded before and after the decrease in her ava...View the full answer
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