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A 12-year-old patient recently was diagnosed with rheumatoid arthritis, which may seriously affect his ability to play sports. It is in the child's best interests to conduct education interventions with his parents rather than with him, because he will have to comply with certain activity restrictions.
Implicit Cost
The opportunity cost associated with a firm's use of resources that it owns, measured by the income the firm foregoes by utilizing these resources in-house rather than engaging them elsewhere for profit.
Migration
The movement of people from one place to another with the intentions of settling, permanently or temporarily, at a new location.
Implicit Cost
Implicit cost refers to the opportunity cost associated with a company's use of resources that it already owns, without direct payment, reflecting the potential income lost in choosing one alternative over another.
Migration
The relocation of individuals from one location to another, aiming to reside temporarily or establish a permanent base in the new place.
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