Question

Economics: Choose any good that you have purchased in the last month and state what its price was. Think about all the resources that went into getting it to the point-of-sale to you. Explain how every penny of your purchase made it back to households through the factor market by guesstimating a breakdown of the payment made to each resource. Your equation (list) should allocate 100% of the purchase price to each factor of production.

Answer 1

Coffee: $3.50

Answer 2

Ground Coffee - .40
Milk - .30
Cup - .08
Brown cardboard - .02
Labour - .30

Answer 3

idk I cant get my costs to $3.50
Its kind of impossible

Answer 4

I am just gonna lower my cost of coffee to 2 dollars

Answer 5

Not sure if these factor in, but you have to store the beans, ship the beans, etc.
Is labour for the barista or the farmer?

Answer 6

ya why not lets count that in cuz like otherwise my costs are pretty low. In reality it is like that. The coffeeshop rips ppl off

Answer 7

and you still buy their delicious energy drinks even though they're so expensive haha
Struggling with any other costs of production/labor etc.

Answer 8

@bibby do you know how to find the length of a vertical ellipse minor axis

Answer 9

I do know how but I will not help you for you are spamming my new friend blacklabel's question

Answer 10

OMG swweet. I am your new friend?!?!? :P

Answer 11

im sorry

Answer 12

i just really need help i never learned ellipses and somehow my teacher left me ellipses for homework

Answer 13

So go check out youtube and google nerd.
ANYHOW, FRIEND... rent is also a cost

Answer 14

Ohhh true.
Good thinking

Answer 15

Thanks :)

Answer 16

Make your people proud brother

Answer 17

Hahahaha I try

Answer 18

@nincompoop

Answer 19

just SMH... just SMH

Answer 20

Ok lesson learned. Never ask the guy a math question again

Answer 21

LAUGHING OUT LOUD

Answer 22

I told him I dont own any money and my dad is too impulsive to invest

Answer 23

I take it that you haven't really taken business classes before?

Answer 24

Nope this is my first economics course

Answer 25

you don't really learn production, niche, and pos in an economics class...

Answer 26

ya this stuff has nothing to do with what I am learning.
Its just a random post I gotta do

Answer 27

oh laughing out loud

Answer 28

because that is more for business and marketing plan

Answer 29

ikkk
We are learning this week about organizing production and output and costs
Like figuring out opportunity costs and economical profit
And like Production curves ...... fixed costs..... whtvr boring stuff