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What is the usual procedure if a union changes its status by merging with another union?
Sunk Costs
Sunk costs are past expenditures that have already been incurred and cannot be recovered, and thus should not impact future decision-making.
Past Costs
Refers to expenses that have already occurred and cannot be recovered.
Marginal Costs
The supplementary cost that comes with producing an extra unit of a good or service.
Mass Affordability
The widespread ability of the average consumer to purchase goods and services, often due to lower prices or increased income levels.
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