MBA 540 DM1: Opportunity Cost Analysis. Research Paper (Research Paper Sample)
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Every time we have to make a choice we are faced with an opportunity cost. Using an example in your professional life (Law Enforcement-Deputy Sheriff), identify a situation where you were presented with a choice, the opportunity cost of the choice you made, and the process you used to make your choice. As part of your discussion, explain whether or not responsible stewardship played a role in your choice. Remember to use the appropriate economic concepts and terminology that are applicable to your answer.
References:
Brickley, J. A., Smith, C. W., & Zimmerman, J. L. (2016). Managerial Economics and Organizational Architecture. New York: McGraw-Hill Education.
MBA 540 DM1: Opportunity Cost Analysis
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MBA 540 DM1: Opportunity Cost Analysis
As a law enforcement officer – Deputy Sheriff in a small town, my department tasked me to oversee and solve the emerging issue of the emergence of petty criminal gangs in the area. I had to perform an opportunity cost analysis. An opportunity cost analysis is a crucial element of cost-benefit analysis (Brickley, Smith, & Zimmerman, 2016). The gangs have recently terrorized the town and threatening small business owners. From the records, cases of theft and mugging have risen. The budget of the plan was set at 50,000 USD.
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