0
Why do economist measure the cost or money price of things when opportunity cost is what you actually are considering when you decide whether or not to purchase something?
Wiki User
∙ 11y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Why do economists measure the cost of things when opportunity cost is what you actually are considering we when decide whether or not to purchase something?
it is easier for economists to measure "cost" than "opportunity cost"(because people's tastes are different and changeable)
Are there discounted subscriptions to The Economist?
You can actually get the magazine The Economist on a great discount at Amazon. The magazine is at 64% off discount currently and Amazon is a reputable seller of magazines.
In what way are trade-offs and opportunity costs alike?
Trade-offs and opportunity costs are alike in one main way. Perhaps you would make a trade-off in order to enjoy something that you wanted, and you may lose the opportunity to use this item if you do not make the trade-off.
What is opportunity cost when referring to investors?
Although not an actual cost, opportunity cost to an investor is the income he could have earned if he had invested in the next best alternative to the one he actually made.
Is Marginal cost the same as opportunity cost?
No. Marginal cost is the added cost of producing one more of something. This type of cost is real and concrete; it actually has monetary value. Opportunity cost is more theoretical. It measures the amount of money / products that could have been made in places other than the job you are currently in. This is very similar to implicit costs.
Why do economists measure the cost of things when opportunity cost is what you actually are considering we when decide whether or not to purchase something?
it is easier for economists to measure "cost" than "opportunity cost"(because people's tastes are different and changeable)
Are there discounted subscriptions to The Economist?
You can actually get the magazine The Economist on a great discount at Amazon. The magazine is at 64% off discount currently and Amazon is a reputable seller of magazines.
What can cause an economist to be compared to a scientist?
A complete misunderstanding of what those two words actually mean is the only thing I can think of.
Tax on oppurtunity cost?
An opportunity cost is a theoretical calculation of how much money you might have made if you had done something other than what you actually did. I do not know of any taxes on theoretical calculations.
Can you start a sentence with 'At a'?
At a certain point in time, I was actually considering going out with him!
What is the difference between opportunity cost and trade-off?
In a trade-off you give up something for something else. If you exchange some item with someone for something of equal value, you have made a trade-off.in opportunity cost you are forced to make an alternate choice that you did not intend to make. Here you are giving up something of better value for something of lesser value. Usually there is remorse here. You actually are not as happy as you would have been if you had the opportunity to make the original choice.If you go to the store to purchase an item and for some reason you left that item in the store and bring something else home. This could happen because the price s too high, the quality was not as advertised, or you just did not see yourself buying this item. You opportunity cost is the item you left behind in the store.
How can you explain that people want to know more about the world but actually know less?
By considering the kinds of news we have access to
What is a bear actually?
Bear actually is indiginous to much of the woods of the northern hemisphere actually and is known to mall actually your actual face off when given the actual opportunity.
In what way are trade-offs and opportunity costs alike?
Trade-offs and opportunity costs are alike in one main way. Perhaps you would make a trade-off in order to enjoy something that you wanted, and you may lose the opportunity to use this item if you do not make the trade-off.
Probability is found by considering all possible outcomes but without actually testing them?
empirical
How good is a scallops vision?
They actually have great vision, considering they have 100 tiny blue eyes.
Did Justin Bieber actually like Caitlin Beadles?
Considering that they dated, I would say yes.
