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Old 03-27-2006, 01:26 AM   #346
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its shifty dude!!!!!
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Old 03-27-2006, 01:27 AM   #347
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< I have Easter holidays soon
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Old 03-27-2006, 01:27 AM   #348
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^same, in like two weeks!!!
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Old 03-27-2006, 01:28 AM   #349
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^ How long do you get off?
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Old 03-27-2006, 01:29 AM   #350
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Ashley's econ outline...so far
Ashley *last name omitted creepy internet stakers*
Chapter 12 outline

I. Introduction- The Costs of Production

II. What are Costs?
A. Total Revenue, Total Cost, and Profit
1. Total Revenue is the amount that the firm receives for the sale of its output.
2. Total cost is the amount that the firm pays to buy inputs
3. Profit isa firm’s total revenue minus its total cost : Profit = Total revenue - Total cost
B. Costs as Oppurtunity Costs
1. Explicit costs are input costs that require an outlay of money by the firm
2. Implicit costs do not require an outlay of money by the firm
3. Biggest distinction between an accountant and an economist
a. Economists inclue both implicit and explicit costs when measuring a firm’s costs
b. Accountants keep track of the money that flows into and out of firms, therefore they often ignore implicit costs
C. The cost of capital as an opportunity cost- Almost every business has the opportunity cost of the financial capital that has been invested in the business
D. Economic Profit Versus Accounting Profit
1 Economic profit is the total revenue minus the total cost, including both explicit and implicit costs
2. Accounting profit is the total revenue minus total explicit cost

III. Production and Costs- Firms incur costs when they buy inputs to produce the goods and services that they plan to sell
A. The Production Function
1. The production function is the relationship between quantity of inputs used to make a good and the quantity of output of that good
2. People think at the margin and this is the key to understanding the decision a firm makes about how many workers to hire and how much output to produce




doesn't that sound oh so exciting?
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Old 03-27-2006, 01:29 AM   #351
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like 4 days

^thats pretty sweet!!!!
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Old 03-27-2006, 01:36 AM   #352
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^^ That sounds good, Ashley

Don't worry we stalkers won't bite

^ we have like 2 weeks off
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Old 03-27-2006, 01:39 AM   #353
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oh dizzang...i hadn't told you guys my name yet.........wow..........oopos kinds liet that one out
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Old 03-27-2006, 01:41 AM   #354
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^ Well now the secret is out, and we are closer to being able to find you..... forget everything about us stalking

< Kate's back on
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Old 03-27-2006, 01:43 AM   #355
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john don't joke about stalkers, I'm scared of them!!!!

^yay
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Old 03-27-2006, 01:45 AM   #356
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I really thought my Math teacher was stalking me last year




I'm kinda glad my name slipped out..I didn't know how to say what it was, was I to be all like, hey all of you who don't care my name is blah.
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Old 03-27-2006, 01:49 AM   #357
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I'm sooo scared of stalkersso i put it in the boo thread
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Old 03-27-2006, 01:49 AM   #358
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^^^ Okay it was in bad taste, I aplogize

^^ It's not that we don't care, but we didn't want to intrude we ain't stalkers now are we?............just to be clear, the answer that that question is no
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Old 03-27-2006, 01:51 AM   #359
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^ whatttttt
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Old 03-27-2006, 01:53 AM   #360
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where is the boo thread, and I was only kidding about you guys not caring





stalkers are creepy, especially middle-aged ones with a fascination for numbers

boil
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