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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 65
Circle the letter that corresponds to the best answer. Suppose you had $1,000 to spend. If you spent it on a vacation trip rather than on new clothes, your second choice, or 1,000 lottery tickets, your third choice, what was your opportunity cost of going on a vacation trip?
A) $1,000
B) the vacation trip itself
C) not buying the new clothes
D) not buying the lottery tickets
E) missing out on the $10 million lottery prize
A) $1,000
B) the vacation trip itself
C) not buying the new clothes
D) not buying the lottery tickets
E) missing out on the $10 million lottery prize
Explanation
Verified
Verified
If the individual has $1,000 to spend. I...
Macroeconomics 11th Edition by Stephen Slavin
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