Consider the marginal cost for a product like Microsoft Windows 7. How does the marginal cost for a product like this differ from a product like automobiles? What relevance might there be to this difference?

Suppose a company incurs the following costs:
Labor $400
Equipment $300
Materials $100
It owns the building so it doesn't have to pay the $800 in rent.
a. What is the total accounting cost?
b. What is the total economic cost?
c. Explain why these are different in this way.

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