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Price Versus Cost

Robert341 Wrote: Apr 17, 2013 12:17 PM
If he keeps educating Americans about economics, Dr. Williams could wreck the Democrat party. He must be stopped! I will link to this from my Old Jarhead blog. (www.tartanmarine.blogspot.com) Robert A. Hall USMC 1964-68 USMCR, 1977-83 Massachusetts Senate, 1973-83 Author: The Coming Collapse of the American Republic All royalties go to help wounded veterans For a free PDF of my 80-page book, write tartanmarine(at)gmail.com
Suppose you buy a gallon of gas for $3. How much did it cost you? You say, "Williams, that's a silly question. It cost $3." That's where you're mistaken, because there's a difference between price and cost. To prove that price and cost are not the same, consider the following. Suppose you live and work in New York City and routinely pay $15 for a haircut. Imagine you were told that there's a barber in Boise, Idaho, who can give you the identical haircut for just $5. Would you start going to the Boise barber? I'm betting you'd answer no because...
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