Explain how the concepts of subjective value and opportunity cost manifest themselves in the arguments used by Thomas Sowell in “What is Economics?” In other words, how does Sowell’s exposition rely on the same concepts even though he may not use the same words or terms. Support your reasoning with quotations from the various readings.
(Hint: How does Sowell define the study of economics? How does that definition matter for the for the discussion of the two concepts?)
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