Sunk costs
A)can only be measured in monetary terms
B)are opportunity costs
C)should influence a person's choice if that person is a marginal decision maker
D)lower the efficiency of production
E)should not be considered when making economic decisions

Question

Quizplus · Accepted Answer

Sunk costs are costs that have already been incurred and cannot be recovered. They should not influence current decision-making because they do not change regardless of the outcome of the decision.

Sunk Costs