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Martha has 150 to spend each week and cannot borrow

Martha has $150 to spend each week and cannot borrow money. She buys malted milk balls and the composite good. Suppose that malted milk balls cost $2.50 per bag and the composite good costs $1 per unit.

a. Sketch Martha’s budget constraint.

b. What is the opportunity cost, in terms of bags of malted milk balls, of an additional unit of the composite good?

a. Sketch Martha’s budget constraint.

b. What is the opportunity cost, in terms of bags of malted milk balls, of an additional unit of the composite good?

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