Skip to main content

Freight Data Cost Elements (2013) / Chapter Skim
Currently Skimming:

Pages 63-68

The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.

From page 63...
... A-1 A p p e n d i x A Basic Cost Concepts, Definitions, and Glossary Appendix A A-1 Appendix A: Basic Cost Concepts, Definitions, and Glossary Economic vs. Market Costs Economists study two related -- though different -- concepts: market or private costs, and economic or resource costs.
From page 64...
... A-2 Appendix A A-2 Social Costs = Private Costs + External Costs Public sector decision making concerning freight transportation must consider the impacts that the different alternatives have on all stakeholders. Some of these impacts (e.g., the direct costs associated with making a delivery)
From page 65...
... A-3 Appendix A A-3 Figure A.2. Basic relations among cost components.
From page 66...
... A-4 Appendix A A-4 where P = the market rate, m = the marginal cost, = the elasticity of demand, and sk = the market share of producer k. As shown, equations (1)
From page 67...
... A-5 Appendix A A-5 Economic costs: The actual costs of each activity without internal markups, transfers, or profits. External costs: The costs that are not internalized by the participants in an economic transaction.
From page 68...
... A-6 Appendix A A-6 Short-run average costs: Short-run total cost divided by the total output. Short-run fixed costs: The summation of all fixed costs required to produce a set output.

Key Terms

This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More information on Chapter Skim is available.