What is the opportunity cost of this decision?

What is the opportunity cost of this decision?

Costs are classified according to the type of analysis that is being done. Suppose you were offered a job making $50,000 annually after you received your undergraduate degree. However, you made a decision to get your MBA in 2 years rather than taking the job. You will incur tuition, books and living costs for these 2 years.
REQUIRED:
• What costs are relevant to your decision? Note that some costs relevant to a decision may not be quantitative.
• What is the opportunity cost of this decision.
• Comment on response of 2 classmates. Agree or disagree


 

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