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When I started building my shop up, I had limited resources to complete any task that was brought to me. I had either to build a new computer or fix a computer that was brought in. I could only build two computers in a week, but I could fix six computers in that same week if I didn't build any computers. The opportunity cost was for every one computer built, three computers would not be fixed. The average price to build one computer was $1000 with a profit of $50, however the average cost to fix three computers was $200 with and average profit of $75. So if I built one computer I would lose up to $25 that week...
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Common topics in this essay:
- China’s Growing Economy—Helped or Hindered U.S. Economy
- Econ101
- Efficient Market Hypothesis
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- efficient-market
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