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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

Give an example of an opportunity cost that an accountant would not count as a cost. Why would the accountant ignore this cost?

To determine
Anopportunity cost and alternative cost.

Explanation

An accountant would not count the opportunity cost of alternative employment as an accounting cost. For example, Caroline runs a cookie business but she works as a computer programmer instead...

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