The top documents tagged [implicit costs explicit]

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Microeconomics Unit 2 Production, cost, profit and perfect competition.

The Costs of Production Mr. Raposo. What is a business? Business: An enterprise that brings individuals, financial and economic resources to produce goods.

Cost function

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Cost function

The Costs of Production 22 C H A P T E R Costs exist because resources Are scarce Productive Have alternative uses Use of a resource in a specific use.

Chapter 6 Cost analysis and Measurement. KEY CONCEPTS historical cost current cost replacement cost opportunity cost explicit cost implicit cost incremental.