With respect to scarcity and opportunity cost, how might a company decide which product to make and what are some methods that it may use to help its decision?

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Chapter 1 discusses scarcity and opportunity cost. A mattress company can create mattresses to sell in retail stores/online or utilize the same material to create protective masks during the pandemic. With respect to scarcity and opportunity cost, how might a company decide which product to make and what are some methods that it may use to help its decision? Explain your answer utilizing the proper terms and concepts from the chapter.

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