What Is the Principle of Increasing Marginal Opportunity Cost

question 2

Essay

What is the principle of increasing marginal opportunity cost?

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Definitions:

Outgroup Homogeneity Bias

The tendency to view individuals outside one's own group as more similar to each other than they actually are.

Ingroups

social groups with which an individual identifies and feels a sense of belonging, often in contrast to outgroups, which are those perceived as different or outside.

Outgroups

Groups of people that one does not identify with or belong to, often perceived as different or opposed to one's own group (ingroup).

Discrimination

Unfair treatment of a person or group on the basis of prejudice.