Answer:
Total economic costs per glass is $0.18.
Explanation:
The total economic costs will include both explicit and implicit costs.
Explicit costs are those which are directly measured, for instance, cost of inputs here.
The implicit costs is the indirect cost. Here opportunity cost is the implicit cost.
Total economic costs
=$(0.01+0.02+0.03+0.02+0.10)
=$0.18
So, the total economic cost is $0.18.
Someone famous stated this but i don’t know who.
it was something like
whatever i have in my bank account right now, i can only spend 10% of it on something
say i want to buy a house. i will only spend %10 of my total bank balance
Answer:
The materials, personnel, effort, and money that enter a system are called the input
It cannot be envirmont or output becuase it is personal things not public.
Explanation:
Hope this helps,
Have a great day!
