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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.
Advantage of North West Corner Method: a. This methods is very effective as it provide step by step solution. b. It is very simple to obtain optimum solution through this
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