What is the relative price of root beer in terms of DVDs and what is the opportunity

Question:

What is the relative price of root beer in terms of DVDs and what is the opportunity cost of a bottle of root beer?
Marc has a budget of $20 a month to spend on root beer and DVDs. The price of root beer is $5 a bottle, and the price of a DVD is $10.
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,...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

Question Posted: