Title

(3) Short Run Cost III: Opportunity Cost

Topic Category

Cost

Publication Date

2011

Keywords

Opportunity Cost, Economic Profits, Normal Profits, Accounting Profits

Abstract

This introduces and explains the concepts of Opportunity Cost and Economic Profits. Economic profits are distinguished from Accounting and Normal Profits.

Run Time

4:01

Primary Discipline

Microeconomics

Skills Delivered

Ability to explain and apply the economic concepts of Opportunity Cost and Economic Profits.

Rigor Level

2000

Prerequisites

Production & Previous Short Run Cost Videos

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