Solved: Why scarcity forces individuals to incur opportunity costs, Microeconomics

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Why scarcity forces individuals to incur opportunity costs

Problem

1. Explain why scarcity forces individuals and society to incur opportunity costs. Give specific examples

2. Suppose a retailer promotes its store by advertising a drawing for a "free car." Is this car free because the winner pays zero for it?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Why scarcity forces individuals to incur opportunity costs

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