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ECON 101 – Homework #1

August 26, 2009
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  1. Amanda Christie permalink
    August 27, 2009 3:22 pm

    I dont understand what you mean by “go to the course website and follow the directions. This assignment is what I see on the website and I dont know what directions I’m suppose to be following?? Maybe you can help me with it in class? I’ll talk to you about it tonight! See you in a little bit.


  2. August 27, 2009 5:10 pm


    Good question. At the top of the page,, there is a message with the header “Econ 101 Students!” toward the top of the page, but under the banner. Within that box there are some instructions to write down a list of numbers. Write those numbers down so I know you can view the page correctly.

  3. Betsy permalink
    August 31, 2009 12:23 am

    On #4 in the homework I wasn’t really sure what the accounting cost was or the economic cost. I understand what the opportunity cost is but I don’t remember talking about the accounting cost. I looked in my book and didn’t find it thier either.

  4. August 31, 2009 9:00 am


    Accounting cost is the “traditional” notion of cost, e.g., what you pay.

    Economic cost is the combination of accounting and opportunity costs.

    And although you didn’t ask, just a reminder, opportunity cost is what you forgo.

  5. Amanda Christie permalink
    August 31, 2009 10:57 pm


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