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Duplicate of Fundamental Economics Review Flashcards | StudBud
Duplicate of Fundamental Economics Review
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Jim - Job A $50,000/year & 2 wks of leave. Job B $60,000/year & no paid leave. He chooses B.
A
Jim's opportunity cost is everything he is gaining at job B.
B
Jim's opportunity cost is everything he gave up at job A
C
Jim's opportunity cost is $50,000 he could have gotten at A
D
JIm has no opportunity cost.
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