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Maximizing Benefits
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Summary
Maximizing benefits means getting the most good things from what we have or do. It's like making sure we have the biggest ice cream cone possible with the money we have to spend on ice cream.
Concepts
Cost-benefit Analysis
Opportunity Cost
Resource Allocation
Efficiency
Optimization
Decision Making
Trade-offs
Utility Maximization
Relevant Degrees
Production Engineering and Planning 50%
Economic Theory and Concepts 33%
Price Formation and Costs 17%
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