This preview shows page 1. Sign up to view the full content.
Unformatted text preview: the job because you would earn economic profit. if MNR was just equal to your oppty. cost of labor, you would take the job also, you would earn a normal profit. A normal profit is earned when : TR - (Accounting cost + oppty. cost) = 0...
View Full Document
This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.
- Fall '10
- Opportunity Cost