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1.Give at least 6 real-life scenarios ( 2 each) and the corresponding opportunity cost related to the following: Food Leisure Studies 2.Give real-life scenarios example

1.Give at least 6 real-life scenarios ( 2 each) and the corresponding opportunity cost related to the following:

Food
Leisure
Studies

2.Give real-life scenarios example to EACH of the following cost concepts and explain briefly.

Fixed Cost
Variable Cost
Total Cost
Average Cost
Marginal Cost
Sunk Cost
Relevant Cost

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