Multiple Choice
Assume that a consumer has a given budget or income of $12 and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. For this consumer, the opportunity cost of buying one more apple is
A) 0.5 of a banana.
B) 0.8 of a banana.
C) 1 banana.
D) 2 bananas.
Correct Answer:
Verified
Correct Answer:
Verified
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