Use the Table Below to Answer the Following Questions

question 120

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 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:

Product Concentration

The amount of a substance per defined space; typically refers to the amount of a reactant or product in a solution or reaction mixture.

Hemoglobin

An iron-containing protein in red blood cells that transports oxygen from the lungs to the tissues of the body.

Oxygen Gas

A diatomic molecule consisting of two oxygen atoms, essential for respiration in most living organisms and used in various industrial processes.