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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Explain the relationship between changes in opportunity cost and changes in behavior.

To determine

Relationship between change in opportunity cost and change in behavior.

Explanation

The opportunity cost is the cost of alternative loss when another alternative is chosen. The opportunity cost affects the people’s behavior. People are always identifying which good is best to forego to gain other goods...

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