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Describe a decision that you or your company made that involved opportunity costs that should have been considered. Why did your company make the decision

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Answer:

Yes, once I was working in a clothing retail store as a manager and my company wanted to expand their business by opening another outlet. We had two locations in out mind but the funds were enough to open only one. After a thorough analysis we decided to open it near the central station of the city.

The opportunity cost of the decision is the income lost from the other location that was near the biggest mall of he city. The only reason behind choosing the first alternative is the potential footfall near the location.

User Mhall
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