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Resource Allocation

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Resource Allocation

Within the Discussion Board area, write 1 page that respond to the following questions with your thoughts, ideas,

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and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

Assume that you invested $10,000 in a new assisted living home facility, only to discover that the venture would not be profitable. Your continued investment would only cost you more money. What would you do?

Would you proceed with the business and create an opportunity to recover your investment?
Would you cut your losses and quit the business?
Share the steps you took in making your decision, and ensure that you integrate various relevant economic terms and models in your response.

Resource Allocation

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Resource Allocation

Identify and briefly define 1 of the following concepts:

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Opportunity cost
Sunk cost
Cost-benefit analysis
Based upon the concept that you have selected, respond to each of the following questions:

What are the basic steps for the application of your chosen concept in resource allocation?
Provide an example of how this concept can be applied in a specific health care resource allocation.
How will the application of this concept impact the structure of the health care institution when allocating resources?
Ensure that you integrate economic terms, frameworks, and models throughout the review.

Be sure to follow APA style page formatting, and provide at lea