Sunk Costs

question 300

Multiple Choice

Sunk costs

• A)are costs associated with repairing something you already own.
• B)are important for optimal decision making.
• C)are costs that have already been paid and cannot be recaptured in any significant way.
• D)are costs that firms sink into marketing.

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Definitions:

Avoidance Learning

Learning to avoid events or conditions associated with aversive consequences or phobias.

Escape Behavior

Actions taken to avoid expected or current discomforts, often seen in both human psychological responses and animal behavior studies.

Shaping Behavior

The process of reinforcing successive approximations of a desired behavior to teach a new behavior or skill.

Negative Punishment

A decrease in behavior that results from a removed consequence.