Business, 11.04.2020 03:01 jennsou

Suppose that Russ has budgeted $20 a month to buy candy bars, music downloads, or some combination of both. If Russ spends all his budget on candy bars he can obtain 40 bars a month; if he buys only downloads, he can buy 20 a month.

a. What is the price of a candy bar?
b. What is the price of a music download?
c. What is the opportunity cost of a music download?
d. What is the opportunity cost of a candy bar?
e. Would the opportunity cost of each good change if Russ decided to increase his monthly budget to $30 for the two items?

Answers: 3

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Suppose that Russ has budgeted $20 a month to buy candy bars, music downloads, or some combination o...