Business, 19.01.2021 19:40 rivera6681
Buget Constraint. Suppose that Russ has budgeted $20 a month to by 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. Draw the Budget constraint line.
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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Buget Constraint. Suppose that Russ has budgeted $20 a month to by candy bars, music downloads, or s...
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