Material Detail

Students should think of all the relevant factors to consider when making rational decisions, including all opportunity costs of each choice.

This AE is probably best for a principles of microeconomics course, but could be used in higher level courses as well. Students should understand the concept of opportunity costs and marginal thinking. This is a relatively short AE and should be able to be completed in a single class period with time to spare. It is an independent AE and does not explicitly depend on other AEs.

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