Accounting costs is the correct term. Most micro textbooks contain a
discussion of the difference between accounting and economic costs.
Alex
--
Alexander Tabarrok
Department of Economics, MSN 1D3
George Mason University
Fairfax, VA, 22030
Tel. 703-993-2314
Web Page:
Classical liberal authors such as Bastiat or Mises teach us that
the costs that matter (or should matter) to people who take decisions
are the opportunity costs of that decision -- i.e.
the relative costs/benefits of the many options open to choice --,
as opposed to accounting costs, that describe
--- Francois-Rene Rideau [EMAIL PROTECTED] wrote:
What is the right technical name for what I call accounting cost?
These are often called explicit costs in contrast to implicit costs.
Fred Foldvary
=
[EMAIL PROTECTED]
