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.
Good question. At the top of the page, tomschenkjr.net, 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.
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.
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.
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