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Scarcity and Choice
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Scarcity and Choice
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0. Basic Principles of Economics / Scarcity and Choice / Problem 9
Problem 9
A company must choose between investing in new technology or expanding its workforce. What should be considered to evaluate the trade-offs?
A
The cost of hiring and training new employees.
B
Neither, as trade-offs are not relevant in business decisions.
C
The potential increase in productivity from new technology.
D
Both the potential productivity increase and the cost of hiring.
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