A _______________ is a cost that, once incurred, cannot be recovered.
A)marginal cost
B)diminishing cost
C)sunk cost
D)incremental cost

Question

Quizplus · Accepted Answer

Sunk costs are costs that have already been incurred and cannot be recovered, regardless of any future actions. Marginal costs refer to the cost of producing one additional unit of a good or service, while diminishing costs refer to a decrease in the marginal output as more units are produced. Incremental costs refer to the increase in costs associated with producing an additional unit or making a small change in the production process.

A _______________ Is a Cost That, Once Incurred, Cannot Be