tag:blogger.com,1999:blog-1735628051336217048.post6351945932461874537..comments2024-02-24T04:08:30.728-05:00Comments on MV=PQ: A Resource for Economic Educators: Price vs. CostTim Schillinghttp://www.blogger.com/profile/09159198592921510105noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1735628051336217048.post-52241854775117563352010-04-06T10:40:32.454-04:002010-04-06T10:40:32.454-04:00Yaira,
You're right. Too many people think c...Yaira,<br /><br />You're right. Too many people think cost = price. They forget that there are other costs (time, other resources such as gas, etc.) that are not as visible. And there is the opportunity cost - what else could you have done with the money/time/other resources?Tim Schillinghttps://www.blogger.com/profile/09159198592921510105noreply@blogger.comtag:blogger.com,1999:blog-1735628051336217048.post-9671591374301701682010-04-05T23:18:03.446-04:002010-04-05T23:18:03.446-04:00I thought this cartoon was funny. It was one of th...I thought this cartoon was funny. It was one of the first topics that we learned in class. The boy says he cannot "waste" his time. Although he is, by making things more complacated than what they need to be. The cost in this boys senario is time. As well as the father mentioned trying to find cheap gas. I believe this is an important lesson that many people are not aware of.Yairanoreply@blogger.com