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Ultimate Newbie · 27 May 2008, 13:34

You Are Gay; that's essentially opportunity cost though. If you include it in the notion of implicit costs, along with the other implicit costs, in producing goods, then the Romanian production process (in your example) would be the cheapest, and at a given set price (ie, price taking) then minimising costs of production (both explicit and implicit) are paramount.

No?

27 May 2008, 13:34	#33
Ultimate Newbie Commodore Join Date: Mar 2001 Location: Perth, Western Australia Posts: 3,176	Re: Economic Efficiency You Are Gay; that's essentially opportunity cost though. If you include it in the notion of implicit costs, along with the other implicit costs, in producing goods, then the Romanian production process (in your example) would be the cheapest, and at a given set price (ie, price taking) then minimising costs of production (both explicit and implicit) are paramount. No? __________________ #Strategy ; #Support - Sovereign --- --- --- "The Cake is a Lie."