Which of the Following Observations Is True

question 69

Multiple Choice

Which of the following observations is true?

• A)Sunk costs are irrelevant for any future action.
• B)Sunk costs should not be ignored when making decisions.
• C)Sunk costs should be included when weighing the marginal costs of production against the marginal benefits received.
• D)Sunk costs can be recovered using corrective measures.
• E)Sunk costs are the same as social marginal costs.

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Definitions:

Evolutionary Perspective

A view that humans are a species of animal and that their social behavior is a consequence of particular evolved adaptations.

Self-Esteem

A person’s evaluation of his or her value or self-worth. The level of positive feeling one has about oneself.

Feelings Of Certainty

The state of being confident or sure about something, without any doubt.

Social Dilemmas

Situations in which collective interests are at odds with private interests, leading to conflicts between cooperating for the common good or acting in one's own self-interest.