Question: Stated below are 3 Economic Principles. Pick any 2 and explain the application of the principle by providing real life examples. Principle 1: People face

Stated below are 3 Economic Principles. Pick any 2 and explain the application of the principle by providing real life examples. Principle 1: People face trade-offs. Principle 2: The cost of something is what you give up to get it. Principle 3: Rational people think at the margin.

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