Perfectly shiftable - Study guides, Class notes & Summaries
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Microeconomics 1B03 Exam
- Exam (elaborations) • 25 pages • 2024
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Microeconomics 1B03 Exam
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E201 Questions and Answers 2022/2023 {Econ IUPUI}
- Exam (elaborations) • 11 pages • 2023
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E201 Questions and Answers 2022/2023 {Econ IUPUI} 
Economists use the phrase "There is no such thing as a free lunch," to illustrate 
that to get one thing, we must give up something else. 
 
 
 
In economics, the cost of something is 
what you give up to get it 
 
 
 
The opportunity cost of going to college is 
the value of the best opportunity a student gives up to attend college. 
 
 
 
For most students, the largest single cost of a college education is 
the wages given up to attend schoo...
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