Sara has $12 to spend on popcorn and nuts. Popcorn is $3 a bag, and nuts is
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Sara has $12 to spend on popcorn and nuts. Popcorn is $3 a bag, and nuts is $3 a bag. FigureA13.1 illustrates Sara’s preferences. Use the figure to work Problems.
What is the relative price of nuts and what is the opportunity cost of a bag of nuts? Draw a graph of Sara’s budget line with nuts on the x-axis.
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The relative price of nuts is 3 a bag of nuts 3 a bag of popcorn which is 1 ...View the full answer
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