Suppose Alphonso's town raised the price of bus tickets to 1dollar per trip (while the price of

Name: Problem 1, Chapter 2: Principles of Macroeconomics for AP Courses
Uploaded: 2021-11-29T05:01:19-08:00
Duration: 1 min 6 s
Channel: Majid Borumand
Description: Suppose Alphonso's town raised the price of bus tickets to 1dollar per trip (while the price of burgers stayed at 2dollars and his budget remained 10dollars per week.) Draw Alphonso's new budget constraint. What happens to the opportunity cost of bus tickets?

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Majid Borumand · Accepted Answer

step 1 So the bus ticket has gone up to bus ticket. It's becoming $1 and a burger is $2. And it is $10

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