Abstract
In the first part of this chapter we discuss the factors to take into account when evaluating possible alternative courses of action. This will involve a consideration, inter alia, of the various costs and benefits associated with decision-making; in particular we shall be concerned to discriminate between those costs which are relevant in making any decision and those which are not. Opportunity cost, differential cost, variable cost, book value, etc., will be the ‘costs’ considered.
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Dallenbach, George and McNickle, Introduction to Operations Research Techniques, 2nd edn, Prentice Hall, 1983.
Jim Dewhurst, Business Mathematics, Macmillan, 1988.
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© 1989 Jim Dewhurst and Paul Burns
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Dewhurst, J., Burns, P. (1989). Alternative Choice Decisions. In: Small Business. Macmillan Small Business Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-19657-9_17
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DOI: https://doi.org/10.1007/978-1-349-19657-9_17
Publisher Name: Palgrave Macmillan, London
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