Question

what is meaning of economic cost

Answer 1

Answer:

Economic cost is the combination of losses of any goods that have a value attached to them by any one individual. Economic cost is used mainly by economists as means to compare the prudence of one course of action with that of another. ... Economic cost differs from accounting cost because it includes opportunity cost.

Explanation:

Answer 2

Answer:

Economic cost is the combination of losses of any goods that have a value attached to them by any one individual. Economic cost is used mainly by economists as means to compare the prudence of one course of action with that of another. ... Economic cost differs from accounting cost because it includes opportunity cost

Explanation:

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