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Charlotte has a monthly budget of $100 to spend on Dolls and Apps for her iPad. A Doll is $20 while an app is $5.
Charlotte has a monthly budget of $100 to spend on Dolls and Apps for her iPad. A Doll is $20 while an app is $5. A) Determine if each of the following combinations are on Charlotte's Budget Constraint. (Just looking for a Yes/No on each of these i) Five Dolls and Six Apps ii) Four Dolls and Four Apps iii) Three Dolls and Two Apps B) For Charlotte, what is the opportunity cost of one doll? C) Suppose Charlotte gets a raise in her allowance, does her Opportunity Set increase, decrease, or stay the same
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