04-25
2024Intro to Microeconomics ECON20A
Chapter 13 - Costs of Production 1. Explicit cost vs Implicit cost (1) Explicit cost: require an outlay of money (e.g., worker's salary, rent) (2) Implicit cost: don’t require an outlay of money → also affects firm decisions (opportunity cost
标签: University of California IrvineECON20AIntro to Microeconomics
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