Describe opportunity cost, Microeconomics

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Describe opportunity cost

Discussion:

1. Describe opportunity cost?

2. Choose an organization that has a high fixed cost and low variable cost balance to run its operations. Discuss the balance of fixed and variable costs for the organization. How can the organization use technology to change this balance for an advantage?

3. Describe Elasticity of resource demand?

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Microeconomics: Describe opportunity cost

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Microeconomics: Describe opportunity cost

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