The following statements about the "sunk cost fallacy" are true, except
A) it's the tendency to drag past costs into current marginal cost-benefit calculations.
B) it comes from a desire to "get one's money's worth" out of a past expenditure.
C) it refers to the fact that average fixed costs are not a major part of production costs.
D) it could lead one to "throw good money after bad."
Correct Answer:
Verified
Q320: Q321: In the long run, Q322: The phrase "don't cry over spilt milk" Q323: Q324: The firm's short-run marginal-cost curve is increasing Q326: Q327: If the price of a variable resource Q328: If marginal cost exceeds average total cost Q329: When average variable cost is at a Q330: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)all costs are variable
