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book Economics: The Basics 1st Edition by Mike Mandel cover

Economics: The Basics 1st Edition by Mike Mandel

Edition 1ISBN: 978-0071316026
book Economics: The Basics 1st Edition by Mike Mandel cover

Economics: The Basics 1st Edition by Mike Mandel

Edition 1ISBN: 978-0071316026
Exercise 4
Here are three examples of markets in which there is sometimes a zero price. In each case, identify the opportunity cost of consumption, and explain why you don't consume an infinite amount.
a) Unlimited long-distance telephone calls at no extra charge.
b) Free refills for coffee.
c) Unlimited television viewing.
Explanation
Verified
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Opportunity cost is an important concept...

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Economics: The Basics 1st Edition by Mike Mandel
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