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From 8 to 11 p.m., Sam can either attend a basketball game, a hockey match or the symphony. Suppose that Sam decides to attend the hockey match and thinks to herself that if she did not go to the match she would go to the symphony. Then the opportunity cost of attending the hockey match is
Law
A system of rules that are created and enforced through social or governmental institutions to regulate behavior.
Ethical Imperatives
Moral obligations or principles that guide individuals' actions in accordance with what is considered right or just.
Critical Thinkers
Individuals who actively and skillfully conceptualize, apply, analyze, synthesize, and evaluate information to reach a conclusion.
Reasonable People
Individuals who exercise average care, skill, and judgment in conduct and who are presumed to have a certain level of knowledge when making decisions.
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