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17 July, 08:01

What may be the opportunity cost of buying apples?

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  1. 17 July, 08:14
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    The opportunity cost of any action is what you have to give up to do it. If you use your time to go to the movies, you can't use that same time to go to the gym ... Even though the opportunity cost of 2 apples is always one orange, the more apples are made, the more costly producing apples is in terms of welfare/utility
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