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Line 33: + − + − '''''AnnaM''''' − − − '''8. Suppose you could earn $8 an hour. Instead, you watch television for an hour. What is your accounting profit or loss, and what is your economic profit or loss, for that hour?'''
Economics Homework Six Answers - Student Five (view source)
Revision as of 12:53, October 22, 2009
, 12:53, October 22, 2009no edit summary
'''''AnnaM'''''
'''1. Fixed costs can be easily identified by seeing what the total costs are when output is _______. Separately, give an example of a variable cost.'''
'''1. Fixed costs can be easily identified by seeing what the total costs are when output is _______. Separately, give an example of a variable cost.'''
'''8. Suppose you could earn $8 an hour. Instead, you watch television for an hour. What is your accounting profit or loss, and what is your economic profit or loss, for that hour?'''
Your accounting loss would be $8. Your economic loss would be $8, plus the time you spent watching TV, plus the cost ofr hte electricity to run the TV.