Final answer:
The opportunity cost of bus tickets for Alphonso will increase when the price of bus tickets rises from $0.50 to $1, while the price of burgers remains at $2. This is reflected graphically by a steeper slope of his budget constraint, indicating a higher sacrifice of burgers to afford one bus ticket.
Step-by-step explanation:
The cost of using transportation such as a bus, plane, or subway can be described in economic terms as the opportunity cost. Opportunity cost is defined as the value of the next best alternative that is foregone when making a decision. In the scenario provided, if Alphonso's town increases the price of bus tickets from $0.50 to $1 per trip, while the price of burgers remains at $2 and his budget is $10 per week, the opportunity cost of purchasing bus tickets will change.
Originally, the opportunity cost of a bus ticket is .25 burgers because one bus ticket at $0.50 is equivalent to one-quarter of a $2 burger. With the increase in the bus ticket price to $1, the opportunity cost doubles to 0.50 burgers for each bus ticket as now one bus ticket is equivalent to half of a $2 burger.
When representing this graphically, Alphonso's new budget constraint would show a steeper slope due to the increased opportunity cost of bus tickets. The higher price of bus tickets results in a rotation of the budget constraint clockwise around the vertical axis, denoting a greater opportunity cost associated with bus tickets.