An opportunity cost
[DOC File]Opportunity Cost Work Sheet - LCPS
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Opportunity cost . is one of the most important concepts in economics and is the basis of all economic decision making. The definition of opportunity cost is the value of any alternative you must give up when you make a choice. More specifically, it is the value of the next best alternative.
[DOC File]Chapter 1-Scarcity, Choice, and Opportunity Cost
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-Decrease the opportunity cost of doing something ---> Do more of it. Section 3—Production Possibilities Curve. Production Possibilities Curve-A graph showing alternative ways to use an economy’s productive resources. Guns Butter 0 15 8 14 14 12 18 9 20 5 21 0
[DOC File]Practice Questions: Tradeoffs, Opportunity Cost, Supply ...
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Practice Questions: Tradeoffs, Opportunity Cost, Supply and Demand Author: GMU Last modified by: GMU Created Date: 10/1/2008 4:09:00 PM Other titles: Practice Questions: Tradeoffs, Opportunity Cost, Supply and Demand
[DOCX File]Opportunity Cost Assignment Name:___________
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Opportunity Cost Assignment Name_____ In your own words explain . opportunity cost. Create your own example to support your explanation. Does money have to be involved when you talk about opportunity cost? Why or why not? For each of the examples explain the opportunity costs for each decision:
[DOC File]Opportunity Cost of Capital
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The “net present value” rule says to accept the distribution of cash flow {C 1}, with expected value C 1, in exchange for investment C 0 whenever C 1 / (1 + r) > C 0 where the rate r used to discount cash flow is the “opportunity cost of capital” associated with the distribution of cash flow {C 1}.
[DOC File]Opportunity cost activity - FTE
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The opportunity cost of selling is giving up a perceived higher valued sale. Later in the day when there are few potential customers on the street, selling at a low price would not be perceived to be giving up the same higher valued sale. In fact the hot dog may be worthless if the vendor must take it home and throw it away, so the opportunity ...
[DOC File]CHAPTER 1: INTRODUCTION
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a. an opportunity cost. b. a sunk cost. c. an incremental cost. d. a joint cost. d 2. The kind of cost that can be ignored in short-term decision making is. a. a differential cost. b. an opportunity cost. c. a relevant cost. d. a sunk cost. b 3. The role of sunk costs in decision making can be summed up in which of the following sayings? a.
[DOC File]Choices and Opportunity Cost
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To teach what opportunity cost means. To teach that there is an opportunity cost to every consumer choice. To teach students to identify the opportunity cost of a consumer choice. Description: When individuals produce goods and services, they normally trade most of them to obtain other more desired goods or services.
[DOC File]Opportunity Costs and Managerial Decision Making in a ...
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The opportunity cost is the decision maker's net gain over the second best choice, if selecting the best alternative. One should opt to do something only if the associated net benefit outweighs that of the second best alternative. The concept of opportunity cost has applicability to collective social decisions as well as to individual decisions.
[DOC File]Opportunity Cost Assignment Name:___________
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opportunity cost. Create your own example to support your explanation. Does money have to be involved when you talk about opportunity cost? Why or why not? For each of the examples explain the opportunity costs for each decision: A. You want a car but in order to have one you must work a part-time job Saturdays and Sundays to pay for the vehicle.
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