How can opportunity costs affect a business decision

Reference no: EM133537422

Questions:

1. Explain why the consideration of opportunity costs may be very relevant to a firm. How can opportunity costs affect a business decision? Use an example to support your answer.

2. Think about a good or service for which you believe there has been a shift in demand or supply. Explain the reasons behind the shift and how that has influenced the equilibrium price.

Reference no: EM133537422

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