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Chapter 2 introduces decision making in the face of scarcity and opportunity cost. When we are considering costs, it is often easy to only consider

Chapter 2 introduces decision making in the face of scarcity and opportunity cost. When we are considering costs, it is often easy to only consider the monetary cost of an action as opposed to the total cost, including opportunity cost. In this discussion, your task is to:

  1. Think of a time or an example in your life where the seemingly low monetary cost of an item may be counteracted by some opportunity cost.
  2. Explain what could have changed to make this instance a better deal for you, or what could have made sure the good monetary deal would be worth your while to pursue.

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