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Given a choice, Mike would prefer to stay up until 1:00 a.m. and sleep until 10:00 a.m. This pattern is called the:
Capital Goods
Long-term assets used by businesses to produce goods and services, such as machinery, buildings, and equipment.
Consumer Goods
Products bought by the final consumer for personal use.
Law of Increasing Opportunity Costs
An economic principle that states as production of a good or service increases, the opportunity cost of producing another unit also increases.
Particular Good
A specific item or product that satisfies consumers' needs or wants, distinguishable from general categories or types of goods.
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