Sunk Costs Arise When the Choice of One Course of Action

question 42

True/False

Sunk costs arise when the choice of one course of action eliminates the possibility of another course of action.

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Definitions:

United States Supreme Court

The highest court in the United States, with ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.

Writ of Certiorari

An order issued by a higher court to a lower court to send up the records of a case for review, often used by the U.S. Supreme Court to select cases.

Original Jurisdiction

The authority of a court to hear a case first, before any other court has reviewed the matter.

Supreme Court Justices

The judges appointed to the highest court in the land, responsible for interpreting the Constitution and reviewing significant legal issues.