What are the explicit and implicit cost of attending college

Assignment Help Macroeconomics

Reference no: EM13233520

1. Distinguish between explicit and implicit costs, giving examples of each. What are the explicit and implicit costs of attending college? Why does the economist classify normal profit as a cost? Is economic profit a cost of production?

2. What is a sunk cost? Provide an example of a sunk cost other than one found in the text. Why are such costs irrelevant in making decisions about future actions?

Reference no: EM13233520

Questions Cloud

Discuss each of the figures given in the exercise : Discuss each of the figures given in the exercise with regard to its relevance in the departmentclosing decision.

Write the code to compute s on the basis of these values : n physics, a common useful equation for finding the position s of a body in linear motion at a given time t, based on its initial position s0, initial velocity v0, and rate of acceleration a, is the following: s = s0 + v0 t + ½ at2

Determine the value of fz : A force F = 200i - 400j + FZ k N, is acting through point A(0,0,0) m. If F creates a moment component of -3000 Nm in the direction of a line passing from point B (2,4,5) m to point C(-3,6,8) m

Draw structure for cholesterol & mark all chiral carbons : draw structure for cholesterol & mark all chiral carbons. what functional groups are present in cholesterol? (& yes I tried googling it, so far I have alcohol, hydroxyl, steroid nucleus, and hydrocarbon tail)

What are the explicit and implicit cost of attending college : Distinguish between explicit and implicit costs, giving examples of each. What are the explicit and implicit costs of attending college Why does the economist classify normal profit as a cost Is economic profit a cost of production

Why would they remain the same : Are the following objective functions for an LP model equivalent? That is, if they are both used, one at a time, to solve a problem with exactly the same constraints, will the optimal values of X1 and X2 be the same in both cases? Why or why not?

Explain in detail how liberalism-nationalism and militarism : Explain in detail how Liberalism, Nationalism and Militarism shaped the course of European history. Provide at least two examples of how each force influenced the period of European history since the French revolution.

Why companies have not moved in significant numbers : However, it seems that, up to the present time, the relational model continues as the most prominently used database management tool. Any thoughts about why companies have not moved in significant numbers toward new database models?

Define the normal force frictional force and net work : A 15kg crate is moved along a horizontal floor by pulling on it with a rope that makes a 30 degree angle with the horizontal, How much work is done by the normal force and frictional force, What is the net work

User Account

All Pages