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| | Opportunity cost - Wikipedia, the free encyclopedia |
 | | The consideration of opportunity costs is one of the key differences between the concepts of economic cost and accounting cost. | | | Opportunity cost need not be assessed in monetary terms, but rather can be assessed in terms of anything that is of value to the person or persons doing the assessing. | | | Opportunity cost has been seen as the foundation of the marginal theory of value. |
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http://en.wikipedia.org/wiki/Opportunity_cost
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| | Cost - Wikipedia, the free encyclopedia |
| | Social costs are the sum of private costs and external costs, that is, both the costs internal to the firm's production function and external costs not included in the firm's production function. | | | Opportunity cost, also referred to as economic cost is the value of the best alternative that was not chosen in order to pursue the current endeavour--i.e., what could have been accomplished with the resources expended in the undertaking. | | | Its private costs are the costs that the buyer of a good or service pays the seller. |
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http://en.wikipedia.org/wiki/Cost
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| | Opportunity Cost |
| | Opportunity cost is useful when evaluating the cost and benefit of choices. | | | Opportunity cost contrasts to accounting cost in that accounting costs do not consider forgone opportunities. | | | This is the monetary cost of the education. |
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http://www.netmba.com/econ/micro/cost/opportunity
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| | Catallarchy » Opportunity Cost Puzzle |
| | Else, the opportunity cost for #1 is #3. | | | However, the $2000 wholesale cost is a marginal cost, not a sunk cost for an ongoing business. | | | Now, costs are costs, and revenue is revenue, so we shouldn’t include the Retail Revenue of the final TV. |
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http://catallarchy.net/blog/archives/2004/11/10/opportunity-cost-puzzle
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| | The Washington Monthly |
| | Dylan tix cost $40 and Clapton tix cost $50. | | | Opportunity costs is use to evaluate the alternative use of resources. | | | A common definition for opportunity cost is "the cost of a resource, measured by the value of the next-best, alternative use of that resource." It doesn't say NET value. |
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http://www.washingtonmonthly.com/archives/individual/2005_09/007035.php
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| | Cost |
| | Opportunity cost is the most fundamental cost concept. | | | The fixed cost is the total cost of being open but producing 0. | | | Variable cost equals total cost minus fixed cost. |
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http://hadm.sph.sc.edu/Courses/Econ/Classes/Cost/intro/cost.html
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| | Opportunity Cost |
| | This is an implicit cost, and in this case the implicit cost is part of the cost of capital and probably a fixed cost. | | | This capital has an opportunity cost, and that opportunity cost is an implicit cost. | | | The implicit costs (as well as the money costs) are included in the cost analysis we have just given. |
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http://william-king.www.drexel.edu/top/prin/txt/Cost/cost3.html
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| | opportunity cost Definition |
| | Opportunity cost analysis is an important part of a company's decision-making processes, but is not treated as an actual cost in any financial statement. | | | For example, if an asset such as capital is used for one purpose, the opportunity cost is the value of the next best purpose the asset could have been used for. | | | The cost of passing up the next best choice when making a decision. |
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http://www.investorwords.com/3470/opportunity_cost.html
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| | Introduction to Macroeconomics Chapter 2 Problems |
| | Answer: The cash cost of the milk may be higher in a convenience store, but if the opportunity cost of time for the individual is high the total cost of buying the milk at the convenience store may be lower. | | | Answer: Transaction costs are all costs related to the exchange or trade of goods including negotiation costs, transportation costs, and artificial barriers to trade (e.g., import tariffs). | | | Cost is not measured by taxes paid but by the value of the best opportunity that cannot be pursued. |
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http://mason.gmu.edu/~tlidderd/104/ch2Prob.html
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| | Macroeconomics - 2. Opportunity Cost, Specialization, and Trade |
| | Opportunity cost is measured by the slope of the PPC (the change in along y-axis divided by the change along the x-axis). | | | The economist would say that the opportunity cost to society for taking resources from expanding industries (such as computer technology) to invest in declining industries may be so high that the use of antiquated machinery by declining firms is perfectly efficient. | | | Present consumption is the opportunity cost of investing to increase future consumption. |
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http://mason.gmu.edu/~tlidderd/104/ch2Lect.html
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| | Cost: A Glossary of Political Economy Terms - Dr. Paul M. Johnson |
| | In a more extreme vein, the opportunity cost of committing suicide is not simply the money outlay for the necessary equipment, but rather the value of the total range of future satisfactions one might otherwise be able to achieve. | | | For the economist, the true cost of any decision is the value of the next best outcome (of all the other possible outcomes) that is given up because of that decision. | | | Unless otherwise specified, when economists say "cost," they mean opportunity cost -- that is, the highest valued alternative that must be sacrificed to attain something or otherwise satisfy a want. |
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http://www.auburn.edu/~johnspm/gloss/cost
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| | Tutor2u - Opportunity Cost |
| | The opportunity cost of the government spending £20 billion on interest payments on the national debt is the extra money it might have allocated to the National Health Service | | | When we are considering the opportunity costs of decisions we make, we must use the highest-valued alternative that has had to be sacrificed for the option we have chosen. | | | Many examples of opportunity cost exist at the level of the individual, the household, the firm, the government and the economy: |
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http://www.tutor2u.net/economics/content/topics/introduction/opportunity_cost.htm
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| | Opportunity Cost Doctrine |
| | For agent B, the opportunity cost of deer is 10 rabbits or, conversely, the opportunity cost of rabbit is 1/10 of a deer. | | | The opportunity costs faced by agent A are easily computed: the opportunity cost of a deer is 5 rabbits, or, equivalently, the opportunity cost of a rabbit is 1/5 of a deer. | | | Edgeworth (1894) and Jacob Viner (1932, 1937) took exception to the assertion that all cost was opportunity cost. |
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http://cepa.newschool.edu/het/essays/margrev/oppcost.htm
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| | profit |
| | A company's Ricardian rent is its income minus all of the opportunity costs, including the rental cost of capital and the value of the owners' time. | | | The cost of an A on a midterm for one of my students may be three parties, a night's sleep, and breaking up with his current significant other. | | | The cost of living in my house is not only taxes, maintenance, and the like; it also includes the interest I could collect on the money I would have if I sold the house to someone else... |
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http://arnoldkling.com/econ/profit.html
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| | OPPORTUNITY COST |
| | The opportunity cost of a career in higher education is a foregone career in business, industry, finance, medicine, or ministry. | | | Since opportunity cost is the highest-valued alternative foregone by the individual, it is entirely subjective. | | | The opportunity cost of the next half hour devoted to this essay is a half hour of time which could have been devoted to preparation for my class at 8 a.m. |
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http://facweb.furman.edu/~dstanford/relecon/opcost.htm
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| | arbyte.us: Opportunity Cost and Stock Option Expensing |
| | This seems to me to be an opportunity cost that should be accounted for, but the appropriate value to be assigned is the replacement cost, not the wholesale or retail price. | | | An opportunity cost is not a real cost in the sense of a quantity of time, money, or other resources that must be expended. | | | This replacement cost perspective is also one way to look at why stock and options have an opportunity cost of zero. |
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http://arbyte.us/blog_archive/2003/11/Opportunity_Cost.html
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| | Opportunity Cost |
| | The opportunity cost of any decision consists of everything we must give up in order to carry out that decision (as, the opportunity cost of the decision to increase the output of gadgets in the model economy consists of the food the model economy must give up as a result). | | | In general, economists define the "opportunity cost" of any good or service as the value of all the other goods or services that we must give up in order to produce it. | | | This is a cost: it is the "opportunity cost" of the increase in production of gadgets. |
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http://william-king.www.drexel.edu/top/prin/txt/Neoch/Eco111r.html
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| | Accounting for Stock Options: An Opportunity Cost Apprach |
| | The value received by the manager and the cost to the firm's shareholders are determined in terms of opportunity cost during the life of the option and the exact cost is known on the exercise date. | | | Moreover, since the exact cost of the option based compensation to the firm is known only when the option is exercised on date T, the economic cost approach ensures that the total option based compensation expense in the financial statements reflects the exact cost to the firm. | | | In this approach, the interim financial statements reflect the opportunity cost of the option-based compensation at that time and the total expense reflected in the financial statement is equal to the actual cost to the firm as determined on the expiration date, C |
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http://www.ndsu.nodak.edu/ndsu/charter/FMV.html
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| | Wideman Comparative Glossary of Project Management Terms v3.1 |
| | Costs incurred in the operation of a business which cannot be directly related to the individual products or services being produced. | | | An overrun is that value of costs which are needed to complete a project, over that value originally authorized by management. | | | The initial budget established at or near the time a contract was signed or a project authorized, based on the negotiated contract cost or managementÍs authorization. |
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http://www.maxwideman.com/pmglossary/PMG_O01.htm
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| | Opportunity Cost |
| | In this situation, your opportunity costs are 4% (6%-2%). | | | The opportunity cost of going to college is the money you would have earned if you worked instead. | | | The cost of an alternative that must be forgone in order to pursue a certain action. |
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http://imagefn.investopedia.com/terms/o/opportunitycost.asp
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| | Foundation for Teaching Economics Identifying Opportunity Cost |
| | The solution must include identification of the costs and identification of the bearer of the costs. | | | Review the concept of opportunity cost (the most highly valued alternative) and go through one practice problem with the students. | | | Use the concept of opportunity cost to explain why the rate of divorce among show business celebrities is so high. |
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http://fte.org/teachers/programs/efl/lessons/mon/eflmon3.htm
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| | Production Possibilities Model |
| | The concept of opportunity cost may be illustrated with the production possibilities frontier (PPF). | | | Click on one of the points on the graph for more narrative about opportunity cost as the "opportunity cost price" of the goods. | | | The concept of opportunity cost is illustrated with the production possiblities frontier. |
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http://nova.umuc.edu/~black/ec2.html
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| | The Fribble, 12/04/96: The Opportunity (Cost) of a Lifetime, by MF Cormend |
| | But by using opportunity-cost analyses in situations like these, one can better estimate the true costs of various household expenditures, whether it be that new Volvo you've been eyeing or that Jamaican cruise you surely deserve. | | | The Fribble, 12/04/96: The Opportunity (Cost) of a Lifetime, by MF Cormend | | | There's a factor called "opportunity cost" that we must deal with. |
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http://www.fool.com/Fribble/1996/Fribble961204.htm
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| | EconNews Topic: Scarcity, Choice, and Opportunity Cost |
| | Since the last time such costs were calculated in 1999, costs of fighting crime have increased from $147 billion to $167 billion in 2001, up from only $36 billion in 1982. | | | A British study shows that a child can cost $80,000 up to age 17 excluding private education and full-time childcare. | | | They remove the delays and costs of waiting for change and filling coin hoppers, increasing revenues. |
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http://www.swlearning.com/economics/econ_news/econ_news_scarcity_choice.html
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| | OPPORTUNITY COST |
| | Opportunity cost is defined as the advantage forgone as the result of the acceptance of an alternative. | | | Opportunity cost is difficult, perhaps impossible, to measure precisely. | | | It is measured as the benefits that would result from the next best alternative use of the same resources that were rejected in favor of the one accepted. |
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http://pespmc1.vub.ac.be/ASC/Opport_cost.html
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| | Homeschooling |
| | Lost income is probably the biggest opportunity cost of homeschooling, and my situation is not the most extreme. | | | Economists call this an âopportunity cost,â meaning what something costs you in lost opportunities. | | | My own childrenâ™s education is currently costing us $60,000 each year in lost income. |
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http://www.homeeducator.com/FamilyTimes/articles/13-2article1.htm
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| | The Opportunity Costs of the Iraq War - Center for American Progress |
| | So far, the war has cost the United States $144.4 billion, including $25 billion in the administration's FY05 defense budget signed into law earlier this month. | | | This would help cover costs associated with the Cargo Security Initiative, which deploys customs inspectors to ports around the world to screen cargo before it goes to the United States. | | | Two additional divisions could be added to the Army over the next five years at a cost of $4.8 billion a year. |
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http://www.americanprogress.org/site/pp.asp?c=biJRJ8OVF&b=171438
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| | VentureWoods » Opportunity Cost |
| | Ironically a study shows that even economics don’t understand the concept of oppurtunity cost well. | | | This post at marginalrevolution on oppurtunity cost is worth a read. | | | Very well said Sanjay, I agree more than 100% on your thoughts on opportunity costs. |
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http://www.venturewoods.org/index.php/2005/11/26/opportunity-cost
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| | Low Cost Business Opportunity |
| | Clear Choice USA offers an outstanding business opportunity that allows you to own your own business in the home improvement industry. | | | This home-based business opportunity has low investment, supported with our proven business system. | | | We offer a substantial moneymaking opportunity and a solid business where people come to you. |
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http://www.entrepreneur.com/lowinvestmentfranchises/0,3385,307458,00.html
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| | GCSE Economics - Choice and Opportunity Cost |
| | Opportunity cost - is the benefit that is lost in making a choice between two competing uses of scarce resources. | | | Think of an opportunity cost that you have experienced recently | | | What could be an opportunity cost of you staying in the sixth form at school? |
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http://www.tutor2u.net/economics/gcse/revision_notes/basics_choice_opportunity_cost.htm
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| | Catallaxis: The Psychic Cost of Opportunity Lost |
| | We may define opportunity cost as the cost of one choice in terms of the opportunity foregone in the next best choice. | | | This construct helps us shift our focus from the objective monetary costs of a course of action to the subjective realm wherein alternatives are evaluated not in terms of absolute money prices but in terms of relative psychological benefits. | | | This discussion of psychic costs vs. monetary costs, which includes this thoughtful post from Integral Practice, reminds me of the theory of opportunity cost often attributed to the Austrian economist Friedrich von Wieser (1889), but now also, in this fascinating article, to the great Irish-French economist Richard Cantillon (1755). |
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http://www.catallaxis.com/2005/03/the_psychic_cos.html
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| | Basic Economic Problems - Notes |
| | The opportunity cost principle states the cost of one good in terms of the next best alternative. | | | A free good is available without the use of resources. | | | There is zero opportunity cost, for example air. |
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http://www.bized.ac.uk/learn/economics/micro/problem/notes.htm
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| | Opportunity Cost |
| | Remember, the money you pay for a good or service is not your opportunity cost. | | | When you make a decision, the most valuable alternative you give up is your OPPORTUNITY COST | | | If he chooses the basketball, his opportunity cost is the football. |
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http://www.kidseconbooks.com/html/opportunity_cost.html
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