Table 8.2.1 Hours Spent Total Utility from Sailing 100 140 170 190 Total Utility from Skiing 70 110 140 150 Answer: C 20. If a 10 percent rise in the price of goods leads to a 10 percent decrease in quantity demanded, the demand curve for this good A) is vertical. B) is horizontal. C) has slope equal to 1. D) is a straight line with slope equal to 10. HHI = $1^2 + s2^2 + E) none of the above (where sn is the marke firm).

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Tod ThielLv2

1 May 2018

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Use the table below to answer the following questions. Table 8.1.2 Hours Spent Total Utility from Sailing 100 140 170 190 Total Utility from Skiing 70 110 140 150 2) Refer to Table 8.1.2. Consider Sam's utility from sailing and skiing. The price of sailing is $10 per hour and the price of skiing is $20 per hour; Sam's income to spend on these activities is $80. In consumer equilibrium, Sam will sail for A) 4 hours and ski for 2 hours. B) 2 hours and ski for 4 hours. C) 4 hours. D) 3 hours and ski for 2 hours. E) 8 hours.

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Use the table below to answer the following questions. Table 8.1.2 Hours Spent Total Utility from Skiing Total Utility from Sailing 100 140 110 170 140 190 150 3) Refer to Table 8.1.2. Consider Sam's utility from sailing and skiing. The price of sailing is $10 per hour and the price of skiing is $20 per hour; Sam's income to spend on these activities is $80. In consumer equilibrium, Sam will sail for A) 4 hours and ski for 2 hours. B) 8 hours. C) 3 hours and ski for 2 hours. D) 4 hours E) 2 hours and ski for 4 hours.