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Please explain and clearly the concepts of scarcity and opportunity cost. Provide an example of opportunity cost from either your personal or professional experiences. Remember

Please explain and clearly the concepts of scarcity and opportunity cost. Provide an example of opportunity cost from either your personal or professional experiences. Remember to include explicit costs (able to be measured) and also implicit costs. Then give me an example of an opportunity cost a whole country experiences when society or the government has made a choice.

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