5 thoughts on “ECON 101 – Homework #1

  1. I dont understand what you mean by “go to the course website and follow the directions. This assignment is what I see on the website and I dont know what directions I’m suppose to be following?? Maybe you can help me with it in class? I’ll talk to you about it tonight! See you in a little bit.


  2. Amanda-

    Good question. At the top of the page, tomschenkjr.net, there is a message with the header “Econ 101 Students!” toward the top of the page, but under the banner. Within that box there are some instructions to write down a list of numbers. Write those numbers down so I know you can view the page correctly.

  3. On #4 in the homework I wasn’t really sure what the accounting cost was or the economic cost. I understand what the opportunity cost is but I don’t remember talking about the accounting cost. I looked in my book and didn’t find it thier either.

  4. Betsy-

    Accounting cost is the “traditional” notion of cost, e.g., what you pay.

    Economic cost is the combination of accounting and opportunity costs.

    And although you didn’t ask, just a reminder, opportunity cost is what you forgo.

Comments are closed.