Which of the Following Costs Should Be Ignored When Choosing

question 26

Multiple Choice

Which of the following costs should be ignored when choosing among alternatives?

• A)Opportunity costs.
• B)Sunk costs.
• C)Out-of-pocket costs.
• D)Differential costs.
• E)Average cost.

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Definitions:

Economic Service

Services that lead to the production of economic value, including industry, banking, transportation, and any service contributing to the economy.

Wild Species

Plants, animals, and organisms that grow or live wild in an area without being introduced by humans.

Human Activities

Actions undertaken by humans that affect the natural environment, which can include industrial production, agriculture, and urban development.

COSEWIC

The Committee on the Status of Endangered Wildlife in Canada, responsible for assessing the conservation status of species at risk.