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What does the economic phrase "There is no such thing as a free lunch" mean?
Restaurants do not offer lunches for free every day.
There are always resources that must be given up to produce and consume the lunch.
The person who consumes the lunch gains calories from eating it.
Everyone must pay for his or her own lunch.
The correct answer is: There are always resources that must be given up to produce and consume the lunch.
The phrase "There is no such thing as a free lunch" is often used in economics to highlight the concept of opportunity cost. It implies that everything has a cost, even if it is not immediately apparent. In the context of a free lunch, it means that even if someone receives a lunch without directly paying for it, there are still underlying costs involved, such as the resources used to produce the lunch or the time spent preparing it.