MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 1, Problem 10QE
To determine

Explain the decision rule of spending $5 million.

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Shannon has decided to spend less time on social media because she needs to improve her grades. What might be the opportunity cost of her decision?
Identify and describe the opportunity cost of an activity that you enjoy. Remember to consider everything you must give up to take part in this activity.   Using opportunity cost and benefits, demonstrate how someone might decide whether to participate in your activity or not.
What are the decisions that people have usually made that incurred opportunity costs?
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