Use the Table Below to Answer the Following Questions

question 6

Multiple Choice

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

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Definitions:

Annual Raises

Incremental increases in salary or wages that employees receive on a yearly basis as a reward for performance and/or to keep up with inflation.

Annual Salary

The total amount of money that an employee is paid annually by their employer for their job duties.

Annual Raises

Annual raises are salary increases awarded to employees once a year, often based on performance, inflation, or company profitability.

Annual Salary

The total amount of money earned by an employee on a yearly basis, excluding bonuses, overtime, or other extra payments.