If you were to consider the principles of opportunity cost, MR, and MC; how would these...

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If you were to consider the principles of opportunity cost, MR, and MC; how would these...

If you were to consider the principles of opportunity cost, MR, and MC; how would these economic concepts impact your justification to complete an MBA?

business economics

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Answer 1

Answer #1

Opportunity cost arrives when a person leaves his job and loses the opportunity to earn. And in placr he decides to pursue his MBA. The amount of revenue he loses when he pursues his MBA is the opportunity cost.

Also when this person, has his marginal cost equal to marginal revenue he maximises his profit. In other words when his investment and earnings due to MBA have maximum spread he maximises the returns.

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Answer 2

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