00:01
Here we are looking at two activities, wind surfing and snorkeling and the total utility that each hour provides.
00:07
And what we're trying to find here is the marginal utility of each hour.
00:11
So marginal utility is just when you add one more hour, what is the additional utility provided by that hour? so we're looking at the margin utility of snorkeling in this problem.
00:22
And to do this, we're just going to be adding one hour and we're going to see how much margin utility there is.
00:31
So starting off here, you can think of another row being zero here, and this would be zero utility, and then there would just be a dash line for margin utility, and we're just essentially just going along.
00:43
When you go from zero to 40, that's going to be a difference of 40.
00:46
So the margin utility for the first hour is 40.
00:50
And then moving on, we have 40 to 76.
00:53
We're going from one hour to two hours.
00:55
So the difference here would be 36.
00:57
And then 106 compared to 76, this third hour is providing you 30 utility...