The economic rule of thumb that only future costs and benefits, not past commitments, should be considered in making a decision is the

Name: The economic rule of thumb that only future costs and benefits, not past commitments, should be considered in making a decision is the
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The sunk cost principle advises that decisions should be based on future costs and benefits, ignoring costs already incurred (sunk costs) because they cannot be recovered.

The Economic Rule of Thumb That Only Future Costs and Benefits