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Essentials of Economics
4th Edition
ISBN: 9781464186653
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
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Question
Chapter 1, Problem 4P
To determine
Determine:
Principle of Opportunity Cost
Principle of opportunity cost states that, something is always needed to be given-up for getting another thing and cost of the given-up item is termed as opportunity cost.
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