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-   -   How do you find income elasticity with total utility? (https://www.askmehelpdesk.com/showthread.php?t=614726)

  • Nov 25, 2011, 07:00 PM
    Jay49
    How do you find income elasticity with total utility?
    Hours/month Total Utility Windsurfing Total Utility Snorkeling
    0_____________0____________________0
    1_____________60___________________20
    2_____________110__________________38
    3_____________150__________________53
    4_____________180__________________64
    5_____________200__________________70

    Devon's total income rises from $35 to $55, ceteris paribus. Given that Devon changes his of choice of windsurfing and snorkeling, what is his income elasticity for windsurfing?

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