Business, 11.10.2019 02:00 bsimon0129

Joe sold gold coins for $1,000 that he bought a year ago for $1,000. he says, "at least i didn't lose any money on my financial investment." his economist friend points out that in effect he did lose money because he could have received a 3 percent return on the $1,000 if he had bought a bank certificate of deposit instead of the coins. the economist's analysis in this case incorporates the idea of
- opportunity costs
- marginal benefits that exceed marginal costs.
- imperfect information.
- normative economics

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Joe sold gold coins for $1,000 that he bought a year ago for $1,000. he says, "at least i didn't los...

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