Can I damage lycanthropes with magic spells (acid arrow) or a weapon enchanted with the "magic weapon" spell, or do I have to have silver items?
What's the cheapest way to get a silver morningstar or dagger that can damage lycanthropes?
Damage reduction does nothing against damage directly caused by magic.
So your Acid Arrow example would hurt the werewolf just fine.
But the Magic Weapon spell does not cause damage, it enhances a weapon. The weapons still causes the damage. Unless the weapon was silver, DR would still apply.
A silver weapon is 20gp more than standard price if light (dagger) or 90gp more than standard price if one handed (morningstar).