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Essay

Economics Questions In Real Life Scenarios

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Issue:

Book Reports

 

Written by:

Henry S

 

Date added:

March 8, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 628

 

Was viewed:

3278 times

 

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Essay content:

In other words, the speaker is not achieving maximum utility by attending the lectures. In this situation, the economic decision maker would attempt to maximise net benefit and consider the concept opportunity cost. Considering they have already spent the $1500 for an activity which is “useless and boring”, the economic decision maker would consider undertaking other activities which he/she would obtain maximum utility – such as watching a movie, working at a shop or any other activity which is not “useless and boring”...
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Considering they have already spent the $1500 for an activity which is “useless and boring”, the economic decision maker would consider undertaking other activities which he/she would obtain maximum utility – such as watching a movie, working at a shop or any other activity which is not “useless and boring”...
displayed 300 characters

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