The money price of a textbook is $90 and the money price of the Wii game Super Mario Galaxy is $45 a What is the opportunity cost of a textbook in terms of the Wii game b What is the relative price of the Wii game in terms of textbooks ...

a A textbook costs 90 and a Wii game costs 45 Purchasing 1 textbo ...

The money price of a textbook is $90 and the money price of the Wii game Super

Question:

The money price of a textbook is $90 and the money price of the Wii game Super Mario Galaxy is $45.
a. What is the of a textbook in terms of the Wii game?
b. What is the relative price of the Wii game in terms of textbooks?
Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...