Examlex
The following two problems are independent of one another.
Society's Resources
The total available assets, both natural and man-made, that are available for use by a society.
Marginal Benefit
The supplementary pleasure or utility a consumer experiences when an additional unit of a good or service is consumed.
Marginal Cost
The financial commitment needed to produce an additional unit of a product or service.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision, representing the benefits you could have received by taking an alternative action.
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