Assignment for shy


 Please answer each question separately

1. Explain  why scarcity leads to tradeoffs?

2. What are diminishing marginal returns?

3. Suppose Alphonso's town raises the price of bus tickets from $0.50 to $1 and the price of burgers rises from $2 to $4.

Why is the opportunity cost of bus tickets unchanged?

Suppose  Alphonso's weekly spending money increases from $10 to $20. How is his  budget constraint affected from all three changes? Explain.

    • 10 days ago
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