Which of the Following Costs Are Always Irrelevant in Decision

question 50

Multiple Choice

Which of the following costs are always irrelevant in decision making?

• A) avoidable costs
• B) sunk costs
• C) opportunity costs
• D) fixed costs

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Definitions:

South Korean Won

The official currency of South Korea, represented by the symbol ₩ and the ISO code KRW.

Flexible Exchange Rates

A currency system where the value of a country's currency is allowed to fluctuate according to the foreign exchange market forces of demand and supply.

Market for Yen

The foreign exchange market where the Japanese yen is traded, including the buying, selling, and speculating on yen.

National Income

The total value of all goods and services produced by a country's economy over a specific period, often used as a measure of the nation's economic health.