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.
Recommended Citation
Crane, Steven E., "(3) Short Run Cost III: Opportunity Cost" (2011). Principles of Microeconomics. Paper 56.
http://epublications.marquette.edu/microecon_learning/56
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
COinS