Suppose that you are vacationing at a resort in the Caribbean and you are trying to determine how to spend your time and money on two activities, windsurfing and snorkelling, which both cost $6 per hour. The marginal utility of the activities are shown in table below. WINDSURFING SNORKELLING No. of Marginal Marginal Marginal Marginal Hours Utility Total Utility Utility per Dollar Spent Utility Total Utility Utility per Dollar Spent 1 90 95 2 85 85 W 70 70 65 60 5 60 45 6 45 20 35 15 8 10 5 a) Complete the columns for total utilities in the above table. b) Assume that you have a budget of $42. To maximize your total utility, how would you allocate your budget between the two activities? What is the resulting total utility? Windsurfing: $[ and hours Snorkelling: $ and hours Total utility: utils c) At the end of the day, you dig deep into your pocket and discover an extra $12. How would you allocate your higher budget between the two activities so as to maximize your total utility? What is the resulting total utility? Windsurfing: $ and hours Snorkelling: $ and hours