ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sam has saved some money from his job and he now wants to spend some of the money. He either wants to buy tickets to a Colts game, a new stereo for his truck, or a new cell phone. He decides to buy the phone so what is his opportunity cost?
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cell phone
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Either the new stereo or the game tickets, but not both.
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the game tickets and the stereo
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There is no opportunity cost.
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Explanation:
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