A Cost That Is Unavoidable Regardless of the Actions of a Decision

question 3

Multiple Choice

A cost that is unavoidable regardless of the actions of a decision maker is called:

• A) a sunk cost.
• B) a marginal cost.
• C) an opportunity cost.
• D) an incremental cost.

---

Definitions:

Time And A Half

Time and a half refers to the pay rate that is 1.5 times higher than the normal rate, usually applied to hours worked beyond the standard workweek.

Net Pay

The amount of money that an employee receives after deductions such as taxes and social security contributions have been subtracted from their gross salary.

Overtime

Additional hours worked beyond the standard or agreed working hours, typically compensated at a higher pay rate.

Employment Agency

An organization that matches employers with job seekers.