In a Decision Concerning Replacing Old Equipment with New Equipment

question 84

True/False

In a decision concerning replacing old equipment with new equipment the book value of the old equipment can be considered a sunk cost.

---

Definitions:

Extinguish

In psychology, to diminish the occurrence of a conditioned response by repeatedly presenting the conditioned stimulus without the unconditioned stimulus.

Learned Helplessness

A psychological condition in which individuals believe they lack control over events and therefore do not try to change their situation despite having the ability to do so.

Animals

Multicellular, eukaryotic organisms in the kingdom Animalia that are capable of movement and respond to their environment; they consume organic material, breathe oxygen, and can reproduce.

Secondary Reinforcers

Stimuli that acquire their reinforcing properties through association with primary reinforcers, often linked to satisfying basic needs.