Unit one IP

  due Date:  Wed, 1/10/18 

Deliverable Length:  3 to 4 pages 

Identify and briefly define 1 of the following concepts:

• Opportunity cost 
• Sunk cost 
• Cost-benefit analysis

Based upon the concept that you have selected, respond to each of the following questions:

• 1. What are the basic steps for the application of your  chosen concept in resource allocation? 
• 2.Provide an example of how this concept can be applied      in a specific health care resource allocation. 
• 3.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. Provide at least 4 peer reviewed references from health care journals published in the past 5 years.