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Business opening hours
a) Opportunity cost refers to the cost of the next best alternative that is foregone in a decision. In this case, it refers to the loss income by not opening supermarkets on Weekends.
b) Illustration of opportunity cost mentioned include
These factors will obviously affect commerce decision making, e.g. whether to do business on Sundays or 24-hour a day.
This is a modern concept having excellent future prospects. Maintenance is more relevant with palnt and machinery of mechanical design having more number of moving parts.
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Row Minima Methods: Steps1: The smallest cost in the first row of the transportation table is determined. Let it be C 1j . allocate as much as possible amount X 1j
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