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4. Businesses use a variety resources or productive inputs to produce goods. Explain types of resources that businesses can use in their production and

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4. Businesses use a variety resources or productive inputs to produce goods. Explain types of resources that businesses can use in their production and the opportunity cost. The opportunity costs are related to the types of resources used. There two categories of opportunity costs, monetary and nonmonetary, explain. Finally, discuss or explain how these costs affect our calculation for economic and accounting profits?

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