Question
74) You can buy a season ticket to the Metropolitan Opera for $800. A season ticket plan to see the New York Knicks is $1600.
74) You can buy a season ticket to the Metropolitan Opera for $800. A season ticket plan to see the New York Knicks is $1600. Which of the following is a CORRECT statement?
A) The relative price of an opera ticket is $800.
B) The opportunity cost of a Knicks ticket is 2 opera tickets per Knicks ticket.
C) the money price of a Knicks ticket is 2 opera tickets per Knicks ticket.
D) The money price of opera tickets is 1/2 of a Knicks ticket per opera ticket
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Economics
Authors: Roger A. Arnold
11th edition
1133561675, 978-1133561675
