a. Identify your base-case (or default) choice. b. Identify three opportunity costs (trade-offs). What benefits are you giving up (or harms avoiding) if you go with your default choice instead of the alternatives? Estimate the dollar costs and benefits at the margin of the other choices compared to the base-case. You may have to estimate the economic value of qualitative benefits and harms: estimate what would you be willing to pay to obtain the benefit or avoid the harm. c. Add an analysis, i. and/or ii.: i. Use Excel to calculate the NPV of each of the three options (cost-benefit analysis) at a reasonable interest rate. Include the opportunity costs and future benefits (Embed the spreadsheet in the document). Review Module 05 and see this example: Term Project Step 3 Exemplar.pdf ii. Review game theory in Module 04 and apply the prisoner's dilemma to your decision. With which stakeholder should you cooperate with to get the best outcome for both of you, but who is likely not to cooperate because of the incentives of the "game"? Provide a matrix of decisions and payoffs as well as the equilibrium outcome. d. Which alternative has the strongest economic justification based on i. and/or ii., above? Why