Suppose Alphonso s town raises the price of bus tickets from $0.50 to $1 and the

Question

Suppose Alphonso s town raises the price of bus tickets from $0.50 to $1 and the price of burgers rises from $2 to $4 The opportunity cost of burgers in terms of bus tickets O falls stays the same O not enough information to QUESTI 10 points Save Answer Use this information to answer questions 2 and 3: Marie has a weekly budget of $60, which she likes to spend on magazines and pies. If the price of a pie is $12 what is the maximum number of pies she could buy in a 12 QUESTI 10 points Save Answer Use this information to answer questions 2 and 3: Marie has a weekly budget of $60, which she likes to spend on magazines and pies. If the price of a magazine is $3 each, what is Marie s opportunity cost of purchasing a pie? O 20 magazines O 12 magazines

Explanation / Answer

Ans 1

It remains the same as we would have forgone the same quantity as it before the prices rise

Ans 2

Answer is 5 as 12*5=60

Ans 3

He would have purchased 4 magazines instead of 1 pie

Hence option 2 is correct

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