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

question 95

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 cross elasticity of demand of snorkeling with respect to the price of windsurfing?

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

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Definitions:

Net Energy

The amount of energy available from a resource after subtracting the energy spent to obtain, process, and distribute it.

Thermodynamics

A branch of physics that deals with the relationships between heat and other forms of energy, and how these affect matter.

Conservation

The practice of protecting natural resources and the environment through preservation, management, and restoration efforts to prevent degradation.

Crude Oil

A natural, unrefined petroleum product composed of hydrocarbon deposits and other organic materials.