Use the table below to answer the following questions.
Windsurfing equipment rents for $10 per hour and snorkeling equipment rents for $5 per hour.
Table 8.2.1

-Consider Devon's total utility from snorkeling and windsurfing in Table 8.2.1. Suppose Devon's total income is $35. If the price of windsurfing rises to $20 per hour, what is Devon's elasticity of demand for windsurfing?
A)1.0
B)0.67
C)1.5
D)10
E)1.33

Question

Use the table below to answer the following questions.
Windsurfing equipment rents for $10 per hour and snorkeling equipment rents for $5 per hour.
Table 8.2.1
 
-Consider Devon's total utility from snorkeling and windsurfing in Table 8.2.1. Suppose Devon's total income is $35. If the price of windsurfing rises to $20 per hour, what is Devon's elasticity of demand for windsurfing?
A)1.0 
B)0.67 
C)1.5 
D)10 
E)1.33

Quizplus · Accepted Answer

The Answer of Use the table below to answer the following questions.
Windsurfing equipment rents for $10 per hour and snorkeling equipment rents for $5 per hour.
Table 8.2.1
 
-Consider Devon's total utility from snorkeling and windsurfing in Table 8.2.1. Suppose Devon's total income is $35. If the price of windsurfing rises to $20 per hour, what is Devon's elasticity of demand for windsurfing?
A)1.0 
B)0.67 
C)1.5 
D)10 
E)1.33

Use the Table Below to Answer the Following Questions