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People Respond to Incentives
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Problem 1
Problem 2
Problem 3
Problem 4
Problem 5
Problem 6
Problem 7
Problem 8
Problem 9
Problem 10
People Respond to Incentives
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0. Basic Principles of Economics / People Respond to Incentives / Problem 4
Problem 4
What is opportunity cost?
A
The value of the next best alternative foregone when making a decision.
B
The total cost of all alternatives available.
C
The cost of producing a good or service.
D
The amount of money spent on a particular choice.
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