The opportunity cost of a unit of healthcare services rises. Similarly, if we shift resources away from

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The opportunity cost of a unit of healthcare services rises.

Similarly, if we shift resources away from healthcare toward farming, we must eventually use more skilled doctors and nurses as farmers and more hospitals as hydroponic vegetable factories. The decrease in the production of healthcare services is large, but the increase in food production is small. The opportunity cost of producing a unit of food rises.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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