ECN-220 Module 1 DQ 1 - Nobel prize-winning economist Milton Friedman summarized……
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ECN-220 Module 1 DQ 1
Introduction to Economics - Introduction to Economics
Grand Canyon University
Nobel prize-winning economist Milton Friedman summarized the idea of opportunity cost with his now famous remark: "There is no such thing as a free lunch." What was Friedman really saying when he made this comment? Provide two real-life examples (one professional and one personal) in which you had to make a choice involving opportunity costs. Explain how opportunity costs influenced your decision making.