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Business, 30.08.2019 18:30 emmaccanttlon

Microeconomics test 1 study guide chapter 1 1. define economics 2. define the scarcity principle 3. define the cost-benefit principle 4. janie must choose to either mow the lawn or wash clothes. if she mows the lawn, she will earn $30, and if she washes clothes, she will earn $45. she dislikes both tasks equally and they both take the same amount of time. janie will therefore choose to because it generates a economic surplus.

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