Assignment:
1-2 pages
Details: We make choices as consumers every day. Opportunity cost is defined as a person's "next best alternative" or "the cost of what you give up when you make a choice."
Think of a recent decision you made regarding your career. What was your opportunity cost for making that choice? What was your "next best alternative"?
For this DB assignment clearly identify you next best alternative because the cost of a decision is the net benefits of the next best alternative. Discuss the difficulty in making decisions as well as the different approaches we cant take to determine the "optimal decision."
There are no right and wrong answers but there can be "good and bad explanations.