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Evaluating a Business Software Decision
A small business owner spends an entire 8-hour workday personally installing and configuring a new, free accounting software. This saves the company the $100 it would have cost to purchase a premium software package that came with installation support. The owner could have spent those 8 hours working on a client project that would have generated $400 in revenue. Analyze the owner's decision using the principle of comparing total benefits to full economic costs. Was the decision to use the free software a sound one? Justify your answer by identifying and quantifying all relevant benefits and costs.
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CORE Econ
Economics
Social Science
Empirical Science
Science
Economy
Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Ch.2 Technology and incentives - The Economy 2.0 Microeconomics @ CORE Econ
Analysis in Bloom's Taxonomy
Cognitive Psychology
Psychology
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