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1. Briefly Explain and provide example for each of the ffg: a. sunk cost fallacy b. hidden cost fallacy c. economies of scale d. economies

1. Briefly Explain and provide example for each of the ffg:

a. sunk cost fallacy

b. hidden cost fallacy

c. economies of scale

d. economies of scope

2. explain the meaning of opportunity cost. Illustrate the concept by providing real life example.

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