Define the Terms Relevant Cost and Sunk Cost

question 71

Essay

Define the terms Relevant Cost and Sunk Cost.

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Definitions:

Input Retarder

A driveline brake located between the torque converter housing and the main transmission housing. Input retarders use a paddle wheel design with a vaned rotor mounted between stator vanes in the retarder housing; retardation occurs when oil is directed into the retarder housing.

Chassis Auxiliary

Additional systems or components attached to the main frame of a vehicle, enhancing its function or performance.

Allison Automatic Transmission

A brand of automatic transmission for heavy machinery and vehicles, known for durability and efficiency in transferring engine power to the wheels.

BrakeSaver

A system designed to reduce wear and tear on truck brakes by using engine resistance or auxiliary braking mechanisms to slow down the vehicle.