Dear Instructor -Kindly help

Here 4 questions are must be answered by the given instructions-

Principles of Microeconomics 2e

SENIOR CONTRIBUTING AUTHORS STEVEN A. GREENLAW, UNIVERSITY OF MARY WASHINGTON DAVID SHAPIRO, PENNSYLVANIA STATE UNIVERSIT

Chapters 2

Read chapter 1 & sections 2.1 and 2.2

Homework: Read the article and answer the following questions: Real-Life Examples of Opportunity Cost | St. Louis Fed (stlouisfed.org)

link-

https://www.stlouisfed.org/open-vault/2020/january/real-life-examples-opportunity-cost

1. how does Andrea Caceres-Santamaria define opportunity cost?

2. How does scarcity relate to opportunity cost?

3. Describe what is meant by implicit alternatives.

4. Provide two examples of opportunity cost