YOU DON'T HAVE THE NEAREST IDEA OF HOW MUCH POSITIVE VALUE YO ARE ADDING TO THE LIFE OF STUDENTS & THIS COMMUNITY!! GOD BLESS YOU! HAVE A HAPPY, FULFILLED & HEALTHY LIFE.
variable costs vs. fixed. variable costs will change for each additional unit made. ie. for each burger made there is an increase in the cost of "meat" (variable cost) compared to a fixed cost of ie. property tax, stays the same regardless of the number of burgers made.
mixd cost, mix of variable and fixed. Opportunity cost, is the cost of what you give up to gain something else. ie. the wages given up from working if you decide to go to college. differential costs, costs differ between two alternatives, ie. the cost of going to mc donalds vs wendys for dinner. incremental cost, the costs of doing one vs. another.
Tony you are like the smart, laidback, educated uncle I never had, who comes, explains stuff and helps me prepare for exams :) You're the best!
YOU DON'T HAVE THE NEAREST IDEA OF HOW MUCH POSITIVE VALUE YO ARE ADDING TO THE LIFE OF STUDENTS & THIS COMMUNITY!!
GOD BLESS YOU! HAVE A HAPPY, FULFILLED & HEALTHY LIFE.
variable costs vs. fixed. variable costs will change for each additional unit made. ie. for each burger made there is an increase in the cost of "meat" (variable cost) compared to a fixed cost of ie. property tax, stays the same regardless of the number of burgers made.
+Mike J You got it!
mixd cost, mix of variable and fixed. Opportunity cost, is the cost of what you give up to gain something else. ie. the wages given up from working if you decide to go to college. differential costs, costs differ between two alternatives, ie. the cost of going to mc donalds vs wendys for dinner. incremental cost, the costs of doing one vs. another.
+Mike J Correct :)
This is awesome. Thanks a lot from Romania!
Could you please make it a little clear between opportunity cost and Incremental cost. Thanks
Do you believe that a liberal arts degree or Women's gender studies would ever make up the lost opportunity costs? :)
nice joke