lecture 11

lecture 11 - Explicit vs Implicit Cost What does owning a...

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How much does that cost? Can you compare “costs” vs. “benefits”? Economic Cost – the highest valued opportunity forgone Accounting vs. Economic Cost Economic costs include implicit (opportunity) costs
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Unformatted text preview: Explicit vs. Implicit Cost What does owning a Rembrandt cost? What does your education cost? Newcomb South meeting hall Friday at 6 pm M IT Nobel laureate...
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This note was uploaded on 04/20/2008 for the course ECON 201 taught by Professor Williams during the Fall '08 term at UVA.

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