Use the Following Information for Questions

question 17

Multiple Choice

Use the following information for questions
Hi-Tech Inc. has several outdated computers that cost a total of $17,800 and could be sold as scrap for $4,600. They could be updated for an additional $2,400 and sold. If Hi-Tech updates the computers and sells them, net income will increase by $9,000.
-What amount would be considered sunk costs?

• A) $2,400
• B) $9,000
• C) $17,800
• D) $20,200

Understand demographic differences between rural and urban populations in Canada.

Grasp the historical and social context of First Nations people and government policies affecting them.

Compare the health outcomes of rural versus urban populations.

Understand the impact of education and curriculum delivery methods on healthcare.

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Definitions:

Draft Players

The selection of athletes by professional sports teams during an organized process, commonly referred to as a draft.

Equilibrium Price

The price at which the quantity of goods suppliers are willing to sell equals the quantity of goods consumers are willing to buy, leading to market balance.

Competitive Labor Market

A market where numerous employers and employees interact, leading to wage determination by supply and demand with minimal intervention.

Shirking

is the behavior of avoiding or evading work and responsibilities, often leading to reduced productivity within an employment context.