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Why should a decision maker care about opportunity cost when choosing amongst alternatives?

Why should a decision maker care about opportunity cost when choosi...

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Why should a decision maker care about opportunity cost when choosing amongst alternatives?

Why should a decision maker care about opportunity cost when choosing amongst alternatives?

Answer

A decision maker should pay attention to opportunity cost because it is essential to financial discussion making.
Opportunity cost is giving up something(s) for another thing.
Therefore, weighing the pros and cons of each choice is important.

Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 26 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 89 views.

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