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1. A person rents a house for $24,000 per year. The house can be purchased for $200,000, and the tenant has this much money in

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1. A person rents a house for $24,000 per year. The house can be purchased for $200,000, and the tenant has this much money in a bank account that pays 4 percent interest per year. Is buying the house a good deal for the tenant? Where does opportunity cost enter the picture

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