Is it possible to add a printer via direct ethernet cable/port?

Sure it is.  IF your printer supports ethernet - since you didn't post the model of the printer we have NO IDEA if yours supports it or not.  If it doesn't you can buy a $60-100 print server AND a parallel cable and turn it into a network printer.

Otherwise, you can buy a $10 printer cable and connect it that way.  

If it DOES have a network port, then you just need to set static IP addresses on both the printer and the computer and use a cross-over cable or a network switch connecting the computer to the switch and the printer to the switch.  

But your CHEAPEST option, assuming you don't have a crossover cable and/or network switch and cables, is to buy and parallel printer cable.

it is a HP deskjet 4050
yes, it has an ethernet port

"then you just need to set static IP addresses on both the printer and the computer and use a cross-over cable or a network switch connecting the computer to the switch and the printer to the switch."


i searched for instruction to set manual Ip addresses...I could not find.  Would you please elaborate?
static ip?
switch? is this a "hub" (i have one...and two ethernet cables)

excuse my naivete....

thanx

A switch is not a hub.  A switch is more advanced than a hub and provides potentially faster network connections.  But if all you have is a hub, that will do.

Which is it?  A DeskJet 4050 or a LaserJet 4050?

sorry for the misinfo above.  it is a LASERJET 4050N

whew...

typical microsoft...in what could be a very simple explanation, MS has you go here and there to get what you need.  UGH!

But, viola...i achieved the objective.  Thanx leew