Use the notion of opportunity cost to explain why Theres no such thing as a free lunch.
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Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...
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The expression There is no such thing as a free lunch is one of the most famous ...View the full answer
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