What is the relative price of root beer in terms of movie tickets and what is the
Question:
What is the relative price of root beer in terms of movie tickets 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 movie tickets. The price of root beer is $5 a bottle, and the price of a movie ticket is $10.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
The relative price of an item refers to the opportunity cost of purchasing that item in terms of ano...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The umbrella of ozone in the upper atmosphere is formed from the photolysis of O 2 molecules by solar radiation according to the following reaction: Calculate the cutoff wavelength above which this...
-
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...
-
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. Figure 2 illustrates his preferences. Use Figure 2 to work...
-
Thor Bhd. (Thor) is a listed company in Malaysia, specializes in selling batteries. At 31 December 2021, Thor holds four distinct types of batteries in its warehouse. The accountant of Thor provided...
-
Do Exercise 12 assuming the container has a lid that is made from the same material as the sides.
-
Cruz Clinic deposits all cash receipts on the day when they are received and makes all cash payments by check. At the close of business on June 30, 2004, its Cash account shows an $11,352 debit bal...
-
20-8. Cules son los tres tipos de objetivos de venta?
-
What are demand-driven supply networks, and what role do performance measures play in these networks?
-
LUI. PS - 320 Feb 4. Temple Gadget Wholesalers had the following for 1 Beg. inventory 6 Purchase 13 Purchase 20 Purchase 25 Purchase Total sales 620 units Ending inventory 220 units following for the...
-
Calculate Marcs real income in terms of root beer. Calculate his real income in terms of movie tickets. Marc has a budget of $20 a month to spend on root beer and movie tickets. The price of root...
-
Draw a graph of a persons indifference curves for second-hand clothing and other goods. Then draw two budget lines to show the effect of a fall in income on the quantity of second-hand clothing...
-
Consider the autoionization of water at 25oC: H2O(l) H+(aq) + OH-(aq) Kw = 1.00 10-14 a. Calculate Go for this process at 25oC. b. At 40oC, Kw = 2.92 10-14. Calculate Go at 40oC.
-
3. Different positions of Vermiform appendix.
-
Define Image?
-
What is Dynamic Range?
-
Define Brightness?
-
What is Chromatic Adoption?
-
Find the derivative of sec-1(x). Write the answer without any trigonometric functions. We can use Theorem 2.13 to find the derivatives of the inverse trigonometric functions.
-
Which, if any, of the dichloroethene molecules drawn in Data Table II (3.) (4.) and (5.) are geometric isomers? A. B. C. D. cis-1,2-dichloroethene and trans-1,2-dichloroethene...
-
Calculate Marcs real income in terms of root beer. Calculate his real income in terms of DVDs. Marc has a budget of $20 a month to spend on root beer and DVDs. The price of root beer is $5 a bottle,...
-
Calculate the equation for Marcs budget line (with the quantity of root beer on the left side). Marc has a budget of $20 a month to spend on root beer and DVDs. The price of root beer is $5 a bottle,...
-
Draw a graph of Marcs budget line with the quantity of DVDs on the x-axis. What is the slope of Marcs budget line? What determines its value? Marc has a budget of $20 a month to spend on root beer...
-
Your company produces a health magazine. Its sales data for 1 - year subscriptions are as follows: Year of Operation Subscriptions Sold % Expired at Year End 2 0 2 0 $ 3 0 0 , 0 0 0 5 2 0 2 1 $ 6 4 7...
-
Problem 3 - 2 0 ( Static ) Calculate profitability and liquidity measures LO 3 - 3 , 3 - 4 , 3 - 6 Presented here are the comparative balance sheets of Hames Incorporated at December 3 1 , 2 0 2 3...
-
3 Required information [The following information applies to the questions displayed below) John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter. Samantha. In 2020,...
Study smarter with the SolutionInn App