A friend once remarked that longer movies were a better deal than shorter movies because the ticket
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A friend once remarked that longer movies were a better deal than shorter movies because the ticket price was the same in both cases. Therefore, the longer movie provided more benefit for the same cost as a shorter movie. Using the opportunity cost principle, evaluate your friend’s statement.
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The opportunity cost principle suggests that individuals should evaluate the value of their choices based on what they forgo by making one choice over ...View the full answer
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Aysha Ali
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