Meaning of legal ability to exchange.

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When a money price cannot be assigned to a health care action such as a choice an individual makes to exercise to maintain a healthy cardiovascular system, economists use the concept of opportunity cost which values the action according a rule of thumb. as the next best alternative the individual gives up in order to exercise. at the median gym membership price in the residential area. at zero price. as the number of years expected to be added to the person’s life due to exercise.

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Chapter 2, Problem 15CQ

To determine

Meaning of legal ability to exchange.

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