What is the opportunity cost of a bottle of root beer

Reference no: EM131068429

Marc has a budget of $20 a month to spend on root beer and CDs. The price of root beer is $5 a bottle, and the price of a CD is $10. The figure illustrates his preferences. Use the figure to answer Exercises 1, 2, and 3.
5.1. What is the relative price of root beer in terms of CDs and what is the opportunity cost of a bottle of root beer? Draw a graph of Marc's budget line with CDs on the x-axis

Reference no: EM131068429

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What is the opportunity cost of a bottle of root beer : what is the opportunity cost of a bottle of root beer

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What is the relative price of root beer in terms of cds : What is the relative price of root beer in terms of CDs

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