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Joe spends all of his money on concert tickets and CDs. If Joe's income is $100, the price of tickets is $20 and the price
Joe spends all of his money on concert tickets and CDs. If Joe's income is $100, the price of tickets is $20 and the price of CDs is $10, his possible consumption bundles would look like those in the following table:
Quantity of Tickets Quantity of CDs
50
4 2
3 4
2 6
18
010
If he is currently pruchasing 3 tickets, but would like to purchase a 4th ticket, what would be his opportunity cost in terms of CDs of getting one more ticket?
Select one:
a.$20
b.2 CDs
c.4 CDs
d.$10
e.1 CD
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