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Place each of the following in the correct location in the table.
a. Congested toll roads
b. Knowledge
c. Fish in the ocean
d. National defense
e. Congested non-toll roads
f. Cable TV
g. The environment
h. Fire protection
i. Ice-cream cones
j. Uncongested toll roads
k. Clothing
1. Uncongested non-toll roads
Straight Line
The shortest path between two points, used in both geometric figures and in context like depreciation methods in accounting.
Opportunity Cost
The forfeit of not opting for the following most advantageous option when a decision is reached.
Good X
A placeholder term used in economics to represent a generic good or product in theoretical models and discussions.
Production Possibility Frontier
A curve depicting the maximum feasible amounts of two commodities that a society can produce with current technology and resources.
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