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What is opportunity cost?
Answer: Opportunity cost is a term used in economics, to mean the cost of something in terms of an opportunity foregone (and the advantages that could be received from that opportunity), or the most valuable foregone alternative. For instance, if a city decides to build a hospital on vacant land that it owns, the opportunity cost is some other thing that may have been done with the land and construction funds instead.
Division of labour: Division of labour involves dividing a production process into a number of smaller tasks for each task to be undertaken by a different worker. It may also be
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I have the answers to these two questions, but I need to know HOW to get these answers. Thanks. Question 1 Suppose there are two goods beverage and pizza and two inputs land, T
1. On Wednesday the 16 th , 2008 an enormous avalanche knocked out the lines that transmitted electricity from a hydroelectric dam to Juneau, Alaska. This eliminated Juneau's prima
maximum profits will occur at the output level
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