The tuition you paid at the beginning of the term is a sunk cost, when determining the opportunity cost of attending a session of the class.

Name: The tuition you paid at the beginning of the term is a sunk cost, when determining the opportunity cost of attending a session of the class.
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Question

Quizplus · Accepted Answer

A sunk cost is a cost that has already been incurred and cannot be recovered, so it should not be considered when evaluating future opportunities or decisions.

The Tuition You Paid at the Beginning of the Term