Observe the economic landscape around you and come up with another question worth exploring, similar to the one I showed you at the beginning of the semester: "How can two items cost more than three?" Then, describe an example from your life experience of opportunity cost and how the idea of diminishing marginal returns/increasing opportunity cost factors into it. Remember that this applies even to situations that are not strictly economic in the narrow sense.

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Observing the current economic landscape one interesting question worth exploring could be How can a company maintain profitability in the face of ris... View the full answer