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Describe how ARP improves efficiency of MAC-to-IP address mappings.
Opportunity Cost
The cost of foregone alternatives, representing the benefits that could have been received by choosing the next best alternative.
Subjective Values
The personal importance or worth that an individual places on a good or service, which can vary greatly between people.
Time Costs
The opportunity costs associated with the time spent on an activity instead of other, potentially more valuable, activities.
Transaction Costs
Expenses incurred in making an economic exchange, including search, bargaining, and enforcement of contracts.
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