Many People Have Bemoaned the Fact That Hand-Written Personal Letters

question 42

Essay

Many people have bemoaned the fact that hand-written personal letters have become largely a thing of the past. They have also noted that the number of emails they receive have increased quite dramatically and can hardly be compared to the volume of letters that they used to receive by mail. Explain in terms of opportunity cost why this might be the case. Explain why junk email is probably more of a problem than traditional junk mail delivered to our mail box.

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Definitions:

Marginal Efficiency

Marginal efficiency refers to the rate of return or profit expected from an additional unit of investment.

Interest Rate

The levy, depicted as a percentage of the base amount, that a lender places on a borrower for asset usage.

Marginal Efficiency

The expected rate of return on an additional unit of capital or investment.

Interest Rate

The proportion of a total amount of money that is charged for borrowing it, frequently presented as a yearly rate.