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1. Opportunity Costs What do economists mean by opportunity cost? 2. Demand v. Quantity Demanded What is the difference between a decline in the quantity

1. Opportunity Costs

What do economists mean by "opportunity cost?"

2. Demand v. Quantity Demanded

What is the difference between a decline in the quantity demanded and a decline in demand?Given an example of something for which your demand has fallen.Is it an example of a decline in the quantity you demand or a decline in your demand?

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