Why are costs important in economics? Why don't economists use the same cost data as accountants use?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Nov 24, 2017 10:41 AM

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Why are costs important in economics? Why don't economists use the same cost data as accountants use?

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Costs are important in economics in determining the allocation of resources based on what firms are ...View the full answer

Microeconomics

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