Frank owns his own printing firm. Since business has been going well, he wants to
look
at ways he can increase production. After assessing his rsources and potential
business, he detrmines that hiring two new employees and buying a printing press
will enable him to increase his production by 20 percent over a four-month period.
Therefore, Frank hires the two employees and purchases the press. Frank's actions
are a perfect example of a(n)
opportunity cost.
tradeoff.
rational economic decision.
trade barrier.