Identify and briefly define 1 of the following concepts:
Opportunity cost
Sunk cost
Cost-benefit analysis

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:
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?