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What are the characteristics? Opportunity cost is the alternative we give up when we choose one option over the other. What is a public sector? 1 Macroeconomics SAMPLE PLAN UNIT. To sell to individuals state-run firms, which are then allowed to compete with one another in the marketplace. Articles & Shopping. This is mainly for high school students taking Economics. Shared good or service for which it would be inefficient or impractical "1" To make consumers pay individually "2" to exclude nonpayers. 1 Econ Ch 1+2 Practice Test Answer Section MULTIPLE CHOICE 1. An economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume. Thinking at the margin involves how much more or less to add or subtract when making a decision. January 8th-25th. The opportunity cost of producing an additional unit of product A is (A) all of the human and capital resources used to produce product A. 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