When Economists Refer to a Production Cost That Has Already

question 116

Multiple Choice

When economists refer to a production cost that has already been committed and cannot be recovered, they use the term

• A)implicit cost.
• B)explicit cost.
• C)variable cost.
• D)sunk cost.

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Definitions:

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The largest Christian church, led by the Pope, with a global presence and centuries of religious, social, and political influence.

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