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Distinguish between a trade-off and an opportunity cost in macroeconomic theory.

      

Distinguish between a trade-off and an opportunity cost in macroeconomic theory.

  

Answers


Jim
-Trade-off is the act of choosing one alternative at the expense of another.
-Opportunity cost is the value of the second best choice that is given up when a first choice is
taken. If you use your time to watch TV, the opportunity cost you pay is the value of your second
best choice.
jim items answered the question on March 18, 2019 at 17:27


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