“The correct way to measure the cost of a choice is its opportunity cost – that which is given up to make the choice. ... Costs are not only measured in dollars to determine an opportunity cost. ...
This paper will compare the opportunity cost between going to school full time to pursue an MBA by moving out of town and taking a leave of absence from work, and the option of maintaining a job and enrolling in a local MBA program. In measuring opportunity cost “we should look only at the alternatives that would have been chosen-the next best alternatives that must be given up.
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