Assume a round of golf requires four hours of leisure time, and attending a concert requires two hours. If the price of a round of golf is $40 and the price of a concert is $80, ceteris paribus, Joe will play

Step-by-step explanation:

Relatively less golf and attend relatively more concerts whenever his leisure time becomes more scarce.

- This is called the marginal utility, that with every successive unit that utility decreases. With each passing hour while playing golf Joe is less inclined to play for an extra hour. When leisure time is less than 2 hrs he is equally likely to opt out of golf for concert.

i think it would be 43 movies that would have to be watched.

step-by-step explanation:

think about it. for the second plan, every month is 8 dollars. 8 x 12= 96. so thats the number for the second plan. now for the first plan, its annual meaning you have to pay 10 dollars every year. so now you have to get an equivalent amount of 86 since 96-10=86. 86 divided by 2 since every movie costs 2$ then you would have to watch 43 movies a year to get the same as the second plan. i really hoped this . have a wonderful day as well!

step-by-step explanation: