Sunk Costs

question 82

Multiple Choice

Sunk costs:

• A) should be taken into consideration when making decisions about future production.
• B) are costs that have been incurred as a result of past decisions.
• C) cause the profit-maximizing rule to no longer be useful.
• D) are future costs that you have to incur.
• E) are included only in economic profits.

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Definitions:

Chemical Equation

A written representation of a chemical reaction, showing the reactants and products with their respective quantities.

Subscripts

Small numbers in a chemical formula that indicate the number of atoms of the element directly before the subscript in the molecule.

Reactants

Original substances involved at the beginning of a chemical reaction, used throughout to form the end products.

Chemical Equation

A representation of a chemical reaction using symbols of the elements and formulae of compounds.