Created by: Timmwilson
Number of Blossarys: 22
Χρηματικής πληρωμής. Λογιστική κόστους = κόστος ρητή.
Defined as total revenue - economic cost. Economic costs involve both implicit and explicit costs.
An opportunity cost that does not involve a monetary payment. Ex: opportunity cost of the entrepreneur's time / opportunity cost of the entrepreneur's funds that could have been invested elsewhere.
A monetary payment. Accounting cost = explicit cost.
The decrease in total surplus of the market that is a result of a policy. Ex: price ceilings/floors; government intervention.
Consumer surplus + producer surplus.
The price a producer receives for a product – the marginal cost of production.