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Opportunity Cost and Normal Profit: Using Media to Teach Economics

Opportunity Cost and Normal Profit: Using Media to Teach Economics

After lecturing on the concepts of opportunity cost or normal profit, the instructor plays the story "RX Drug Costs," which was broadcast on the National Public Radio news program All Things Considered. Two individuals are interviewed in the story: a spokesman for the public interest group Public Citizen, who argues that drug companies overstate the costs of drug development, and a spokesman for the drug companies who claims they...

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