MICROECONIMICS
5th Edition
ISBN: 9781319372101
Author: KRUGMAN
Publisher: MAC HIGHER
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Chapter 1, Problem 3P
To determine
Liza needs to buy a textbook for next economic class. The
What is the
Introduction:
Opportunity Cost: The opportunity cost is defined as the next best activity forgone, that is if you want to gain something you need to forgone something at the same time for an example of a nation have to produce more capital goods instead of consumer goods we have to divert more resources for producing capital goods, so there is an opportunity cost for producing more capital goods instead of consumer goods.
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