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The amount of a good that must be given up to produce another good is the concept of:

a. scarcity. b. specialization. c. trade. d. efficiency. e. opp...

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The amount of a good that must be given up to produce another good is the concept of:

a. scarcity.
b. specialization.
c. trade.
d. efficiency.
e. opportunity cost.

Answer

e.
) Opportunity cost is the cost associated with giving up one opportunity for the benefit earned by another.

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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 29 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 200 views.

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