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5 Cards in this Set
- Front
- Back
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why study transportation costs
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know :
why industry operates the way it does how cost structure effects firm decision understand pricing |
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Categories of cost
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Accounting
Economic Social |
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Accounting cost
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Money cost allocation using accounting rules
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Economic cost
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Opportunity cost for future project evolution. Sunk cost -already incurred ; past investments in resource whose benefits will apply to project
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Social cost
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Cost to society - Gulf spill example, ideally covered by business.
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