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Explain the concept of Opportunity Cost arising from the central economic problem of scarce resources and unlimited wants. What is the opportunity cost of seeing

Explain the concept of Opportunity Cost arising from the central economic problem of scarce resources and unlimited wants.

What is the opportunity cost of seeing a movie?

What is the marginal benefit of seeing a movie (assuming that you are seeing it with a friend)?

How would the marginal benefit change if you were seeing a second movie with a different friend?

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