Sunk Costs

question 65

Multiple Choice

Sunk costs

• A)can only be measured in monetary terms
• B)are opportunity costs
• C)should influence a person's choice if that person is a marginal decision maker
• D)lower the efficiency of production
• E)should not be considered when making economic decisions

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Definitions:

Concentrate

To focus one's attention or mental effort on a specific object, task, or activity.

Sleeping

The natural state of rest characterized by altered consciousness, relatively inhibited sensory activity, and reduced muscle activity, vital for health and well-being.

Mortality

The state of being mortal or the incidence of death within a specific population or demographic.

Personal Friendships

Relationships based on mutual affection, trust, and support between individuals.