Note: Please hand write your answers on a sheet of paper and…
Note: Please hand write your answers on a sheet of paper and upload them to canvas. You may scan them or take a picture. Please make sure your writing is legible/readable and your images are clear. Alternatively, you may also type your answers however many of the questions require you to use illustrations to make your points. JPG OR PDF FILE FORMAT ONLY! Suppose Larry Legend has a budget of $360 and is deciding between purchasing membership to Hulu which costs $60 and Netflix which costs $10. 1. Graph the line that demonstrates your example. Be sure to label the y-axis, x-axis, line, and how to identify the opportunity cost in the graph. (Please draw by hand and attach your graph by taking a picture of it.) 2. Calculate the opp cost. 3. Show what will happen graphically if Larry Legend’s budget decreaes to $240. 4. Explain how the opportunity cost changes in your graph. Note: Please hand write your answers on a sheet of paper and upload them to canvas. You may scan them or take a picture. Please make sure your writing is legible/readable and your images are clear. Alternatively, you may also type your answers however many of the questions require you to use illustrations to make your points. JPG OR PDF FILE FORMAT ONLY!
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