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Published byPenelope Mains
Modified over 2 years ago
© February 2014
The world is scarce in every aspect = Limited Resources However human is a greedy race = Unlimited Wants Allocation is the only option available to satisfy everyone
“You are a very good looking man, but you have limitation in time and money, so you can only have 1 girlfriend.”
YOU HAVE 2 OPTIONS Girl #1: G Good Looking S Smart G Generous A very dear wife Girl #2: S Super Sexy E Easy Going F Fits with your community The ultimate girlfriend
One of them is the cost of choosing the other one VS The Concept of Opportunity Cost Value (Benefit) of the next best alternative forgone.
WORKING Sallary (Y1): $ 10.000 BUSINESS Total Revenue (Y1): $ 500.000 Total Cost (Y1): $ 495.000 Profit (Y1): $ 5.000
WORKING Sallary (Y1): $ 10.000 BUSINESS Profit (Y1): $ 5.000 Sallary (Y2): $ 10.000Profit (Y2): $ 10.000 Sallary (Y3): $ 15.000Profit (Y3): $ 15.000 Sallary (Y4): $ 15.000Profit (Y4): $ 20.000 Sallary (Y5): $ 20.000Profit (Y5): $ 25.000 Sallary (Y6): $ 20.000Profit (Y6): $ 30.000
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