Solved

Consider Devon's Total Utility from Snorkeling and Windsurfing in Table

Question 79

Multiple Choice

Consider Devon's total utility from snorkeling and windsurfing in Table 8.3.1.Suppose Devon's total income is $35.If the price of windsurfing rises to $20 per hour,what is Devon's price elasticity of demand for windsurfing?


A) 1.0
B) 0.67
C) 1.5
D) 10
E) 1.33

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents