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Title: Opportunity Cost And The Free Market

Essay Details

Subject: Business
Date: November 3, 2003
Length: 6 / 1752
No of views: 0
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Essay text:

If they concentrate only on building libraries, and not schools, then they are at point E. In order to build both they would need to place themselves at points B, C, and D. At point B there is a bigger production of schools and a small production of libraries...

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At point B there is a bigger production of schools and a small production of libraries. At point D, there is a larger production of libraries and a smaller production of schools. The most effective point would be C because they would concentrate all their efforts on both schools and libraries and therefore have the best allocation of resources and have no opportunity cost...

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