Rani is considering the possibility of obtaining a two year master degree from an institute. In order
Fantastic news! We've Found the answer you've been seeking!
Question:
Rani is considering the possibility of obtaining a two year master degree from an institute. In order to do this however she must give up her job that pays a salary of 2,40,000 per year. Living cost whether she goes on for the degree or not, are estimated at 1,50,000 per annum. however the cost of tuition and books at the institute will amount to 50,000.
Questions
What is the opportunity cost if rani decides to go for degree and what is the sunk cost in this case.
Identify the differential costs in this decision?
Related Book For
Operations Management Creating Value Along the Supply Chain
ISBN: 978-0470525906
7th Edition
Authors: Roberta S. Russell, Bernard W. Taylor
Posted Date: