Economists make decisions by thinking in terms of, Ask an Expert

Economics

1. Economists make decisions by thinking in terms of alternatives. Why do economists thinks there is no such thing as a free lunch?

2. Another situation to think about: Should Michael Phelps mow his own lawn? Assume Michael can mow his lawn in 30 minutes (due to his athletic ability) or he can hire a gardener who can do the same job in 2 hours. Should the fastest person do the job?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9295292

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