A cost that is previously incurred and irreversible is known as ________ cost.
A) a sunk
B) a benefit's
C) an opportunity
D) an explicit
E) marginal

Name: A cost that is previously incurred and irreversible is known as ________ cost. A) a sunk B) a benefit's C) an opportunity D) an explicit E) marginal
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Question

Quizplus · Accepted Answer

A sunk cost is a cost that has already been incurred and cannot be recovered. It is essentially a past cost that should not be taken into account when making current or future decisions.

A Cost That Is Previously Incurred and Irreversible Is Known