What are sunk costs?
A)Permanent losses of resources incurred as the result of cognitive biases in decision making
B)Temporary losses of resources incurred as the result of not making a decision
C)Permanent losses of resources incurred as the result of not making a decision
D)Temporary losses of resources incurred as the result of a decision
E)Permanent losses of resources incurred as the result of a decision

Question

Quizplus · Accepted Answer

Sunk costs are costs that have already been incurred and cannot be recovered, typically resulting from past decisions. These costs should not influence future decisions since they cannot be changed or recovered.

What Are Sunk Costs