Comment on the difficulty of calculating opportunity costs

Assignment Help Business Economics

Reference no: EM13797051

Comment on the difficulty of calculating opportunity costs (the economic concept) as compared to accounting costs (explicit costs). Do you have any suggestions for making the calculation of implicit costs easier?

Reference no: EM13797051

Questions Cloud

Contrast the three different perspectives on sustainability : Compare and contrast the three different perspectives on sustainability. What is your perspective and how would you classify it given the three general views of sustainability we discussed? Consider what you have learned about the economics of non-re..

Difference between dynamic efficiency and static efficiency : Compare and contrast the difference between dynamic (intertemporal) efficiency and static efficiency with respect to non-renewable resources. What are the efficiency conditions for each? What costs reflected in the inter-temporal analysis are not cap..

Describe different approaches to natural resource valuation : A large and fast growing suburb of Rochester is considering expanding the size of its community park system by purchasing over 500 acres of undeveloped land located near a current park site. Describe four different approaches to natural resource valu..

Adding a variable input to a fixed input : Adding a variable input (labor) to a fixed input (capital) will result in an increase in output: As a firm adds labor beyond the point of diminishing returns: ATC and AVC get closer together as quantity produced increases because:

Comment on the difficulty of calculating opportunity costs : Comment on the difficulty of calculating opportunity costs (the economic concept) as compared to accounting costs (explicit costs). Do you have any suggestions for making the calculation of implicit costs easier?

Environments are more conducive to economic growth : Economists argue that some environments are more conducive to economic growth than others. One of the ways economists differentiate one environment from another is in terms of its institutions. An institution is the rules of the game in a society or,..

What is the domestic price per bike after subsidy : The country in this example is a large exporting country. Initially, the country exports motorbikes at the world price of $96. Motorbike producers lobby heavily and receive an export subsidy. What is the domestic price per bike after subsidy? What is..

Country export restrains instead of imports quota : Explain why some countries use country export restrains (VER) instead of imports quota? List and explain at least there reason as to why countries decide to form regional trade agreements. Why we need to make distinction between large and small count..

Disadvantages of a web based customer service approach : Although the web has brought many changes to the delivery of customer service some are good changes but not all are. What are the advantages and disadvantages of a web based customer service approach?

User Account

All Pages