hey everybody so i forgot to say one thing at the end of our last uh lecture about explicit cost and implicit cost and accounting versus economic profit okay so those questions aren't too bad you're gonna have one of those pretty simple where you're gonna have to calculate accounting versus economic profit but from this point forward we're gonna assume we're always dealing with economic profit we're gonna assume any time we see the term cost that there are some sort of implicit cost built into it okay and it's they're not always going to be spelled out for you the reason we do this is because once we get to the next chapters we're going to assume that anytime we're dealing with profit we're doing the economic profit that's really important for some of the assumptions we're going to make in those chapters so i just want you to keep that in back of your head i'm not sure how um how like directly this will come up for you and so whether you have to worry about whether you don't quite understand it yet i don't think that's the case i just want you to keep that in the back of your head as we go forward and i realized i hadn't said that in the last lecture so i want to say now because it doesn't really fit with the next lecture okay so that's it