Question

1.distungish between short term and long term.
2.What is Opportunity Cost.

detailed answer

please answer is urgently​

Answer 1

Answer:

When economists refer to the “opportunity cost” of a resource, they mean the value of the next-highest-valued alternative use of that resource. If, for example, you spend time and money going to a movie, you cannot spend that time at home reading a book, and you can't spend the money on something else.

Answer 2

Explanation:

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