Suppose the line you are standing in at a grocery checkout counter has not moved for 10 minutes. You notice a cashier opening a new one and inviting you to check out. Do you switch to the new cashier or stay put because you have already waited for 10 minutes?
A) stay, because you have already waited for 10 minutes
B) decide to wait for another 5 minutes in case your line speeds up
C) walk out of the store without buying anything because of the wait times
D) be patient and read a magazine while you are waiting
E) switch, because the 10 minutes you waited is a sunk cost
Correct Answer:
Verified
Q28: A cost that has already been incurred
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