Margaret can use her quarterly savings to buy a teakwood study table for her room or spend it on a small Christmas party with her family. The _____ cost of her enjoyment at the Christmas party would then equal the forgone utility of the study table.
a. transaction
b. exchange
c. opportunity
d. direct
e. sunk
Question 2
Capital-intensive production techniques tend to be utilized most commonly in countries where labor is relatively cheap.
a. True
b. False
Indicate whether the statement is true or false
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