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1.Give at least 6 real-life scenarios and the corresponding opportunity cost related to: Food, Leisure, and Studies 2. Give real-life scenarios example to EACH of
1.Give at least 6 real-life scenarios and the corresponding opportunity cost related to:
- Food, Leisure, and 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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