Free Enterprise in Three Minutes Podcast with Ray Keating Podcast Artwork Image
Free Enterprise in Three Minutes Podcast with Ray Keating
Episode #29: What Are Economic Costs and Profits?
February 28, 2019 Ray Keating
Free Enterprise in Three Minutes Podcast with Ray Keating

Episode #29: What Are Economic Costs and Profits?

February 28, 2019

Ray Keating

Ray Keating explains the difference between what people usually think of when it comes to “costs” and “profits,” and what economists mean when they talk about “economic costs” and “economic profits.” They key is opportunity costs.

Ray Keating explains the difference between what people usually think of when it comes to “costs” and “profits,” and what economists mean when they talk about “economic costs” and “economic profits.” They key is opportunity costs.

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