Subject category:
Strategy and General Management
Published in:
1973
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Abstract
At the end of his first year''s trading, Joe Smith''s well located and well run shop seems to have made a comfortable profit. But he is reluctant to take on a second shop and run it through a manager. The essential bookkeeping costs are given, and opportunity costs are indicated. Joe''s brother, an economist, obviously thinks he should get out and do something else. A very short elementary case on opportunity cost, for use very early in a general course with unskilled students.
About
Abstract
At the end of his first year''s trading, Joe Smith''s well located and well run shop seems to have made a comfortable profit. But he is reluctant to take on a second shop and run it through a manager. The essential bookkeeping costs are given, and opportunity costs are indicated. Joe''s brother, an economist, obviously thinks he should get out and do something else. A very short elementary case on opportunity cost, for use very early in a general course with unskilled students.