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Max has $35 a day to spend on windsurfing and snorkeling and he can spend as much time as he likes doing them. The price
Max has $35 a day to spend on windsurfing and snorkeling 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 snorkeling is $5 an hour. The table shows the total utility Max gets from windsurfing.
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Part 1
Calculate Max's marginal utility from windsurfing for each quantity of windsurfing in the table and fill in the right column.
Part 2
Max's marginal utility from windsurfing
1 does
2 does not
obey the principle of diminishing marginal utility.
Hours per day 0 Total utility from windsurfing 0 12C] 22C! 300 Marginal utility from windsurfing C CStep by Step Solution
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