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Opportunity Cost

  • Matthias Ruth
  • Bruce Hannon
Chapter
Part of the Modeling Dynamic Systems book series (MDS)

Abstract

Here we show how to represent the basic economic principle of opportunity cost in STELLA with an example of inventory management.

Keywords

Production Cost Opportunity Cost Wage Rate Actual Inventory Demand Curve 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Reference

  1. Hannon B, Ruth M (2001) Dynamic modeling, 2nd edn. Springer, New YorkGoogle Scholar

Copyright information

© Springer Science+Business Media, LLC 2012

Authors and Affiliations

  • Matthias Ruth
    • 1
  • Bruce Hannon
    • 2
  1. 1.University of MarylandCollege ParkUSA
  2. 2.University of IllinoisUrbanaUSA

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