thinking question
1.false.
Leisure has a positive opportunity cost. For every hour of leisure,
a person gives up alternatives, such as working , studying, etc.,
and the highest valued of these is the opportunith cost of leisure.
In effect, a person buys leisure from himself.
2. True.
Scarce goods are those which people want more of than are available.
If a good is scarce, then an individual would give up something of
value to obtain that good. This is the opportunity cost of the good.
3. False.
a good at zero price is not necessarily a free goo, but a free good
is a good at price zero. A good at zero price doesn't imply the good
is a scarce good, therefore it's not nessarily a free good.
For reference only. 助教謹上
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◆ From: econ95_1.law.nt