Jan 11th Opportunity Cost - Case 1.3: MBA enrollment and...

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1 Case 1.1: The Hong Kong Hilton Why was it profitable to demolish a profitable Hong Kong hotel? The hotel was profitable. It was expected to be profitable in the future. Breaking the management contract was costly. Case 1.1 : The answer CHAPTER 1: Avoid Pitfalls! Opportunity Cost = value of the best foregone alternative to any decision All actions imply an opportunity costs Opportunity costs = true economic costs Case 1.2 : How much does it cost to go to Penn? Tuition and fees: 42,098 Undergraduate expense budget
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2 Case 1.2 : Is this the true cost? All actions opportunity costs Logistics: https://courseweb.library.upenn.edu/ Rebecca Stein [email protected] 541 McNeil, Thursdays, 1:00 to 3pm.
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Unformatted text preview: Case 1.3: MBA enrollment and economic cycles What effect will the current recession have on MBA applications & enrollment? Case 1.4: Having kids How much does it cost to raise a child? 3 Case 1.4 : A few facts 2009 estimate: annual child-rearing expense estimates ranged between $11,650 and 13,530 for a child in a two-child, married-couple family in the middle income group. USDA estimates on Child Rearing Case 1.4 : Is this the true cost? All actions ⇒ opportunity costs Opportunity cost must include opportunity cost of time for parents. Estimate of time cost of first year: $23,780. Time is the most important component of the true cost!...
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This note was uploaded on 01/14/2012 for the course MATH 104 taught by Professor Staff during the Spring '11 term at Aachen University of Applied Sciences.

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Jan 11th Opportunity Cost - Case 1.3: MBA enrollment and...

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