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A firm purchased copper pipes a few years ago at $9 per pipe and storedthem, using them only as the need arises. The firm could
A firm purchased copper pipes a few years ago at $9 per pipe and storedthem, using them only as the need arises. The firm could sell its remaining pipes in the market at the current price of $7. What is the opportunity cost of each pipe and what is the sunkcost?
The opportunity cost is $___ nothing and the sunk cost is $___
nothing. (Enter your response as a wholenumber.)
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