Choose the Correct Statement

question 27

Multiple Choice

Choose the correct statement.

• A)Expenditure on a plant that has no resale value is a sunk cost.
• B)A sunk cost is irrelevant to a firm's current decisions.
• C)A cost that influences a firm's current decisions is the short-run cost of changing its labour inputs.
• D)A cost that influences a firm's current decisions is the long-run cost of changing its plant.
• E)All of the above.

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Definitions:

Governs Behaviour

Refers to principles or forces that influence or control actions and conduct.

Environment

The environment or situation where a human, animal, or plant exists or functions.

Personal Motives

Internal drivers that steer individual behavior towards fulfilling personal desires, goals, or needs.

Leta Hollingworth

An influential psychologist known for her work in child development, intelligence testing, and the study of gifted children.