A Cost That Cannot Be Recovered at the Time a Decision

question 196

Multiple Choice

A cost that cannot be recovered at the time a decision is being made is termed a(n)

• A) marginal cost.
• B) scarcity cost.
• C) sunk cost.
• D) average cost.
• E) opportunity cost.

---

Definitions:

Test Statistic

A standardized value used in statistical hypothesis testing to determine whether to reject the null hypothesis.

Uniformly Distributed

A distribution that has constant probability across the entire range of possible outcomes.

Test Statistic

A value calculated from sample data during a hypothesis test, used to decide whether to reject the null hypothesis.

New Tax Proposal

A suggested plan or policy for imposing taxes that has been put forward for consideration.