Suppose a company has the following costs: Labor $400 Equipment $300 Materials $100 A)What is the total accounting cost? B)What is the total economic cost? In general, accounting costs are the dollars paid for goods and services. In your example $800. Economic costs are expressed in terms of opportunity costs. I dont believe you have provided enough info to determine this. However, economic costs would, likely but not a sure thing, be less than accounting costs.
https://trustedpaperwriters.com/wp-content/uploads/2019/12/157544039158860773-300x54.png 0 0 Steve Kamau https://trustedpaperwriters.com/wp-content/uploads/2019/12/157544039158860773-300x54.png Steve Kamau2021-06-02 23:32:012021-06-02 23:32:01Suppose a company has the following costs: Labor $400 Equipment $300 Materials $100 A)What is the