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One of the lessons of economics is that “there is no such thing as a free lunch.” This means that businesses, consumers, and whole societies face tradeoffs whenever they make a decision. Please draw on your own experiences to discuss the following 3 items. Make sure you use economic concepts in your main contribution.
1. Explain a decision that you have made at work, or one concerning your career, or any major life decision that you have made.
2. Identify and explain the trade-offs that you faced.
3. List the alternatives you had, identify the highest valued alternative, and explain your final decision to the class.
