A locked-in cost is a(n) ________.
A) opportunity cost that is fixed in the short run
B) cost that can be changed in the short run
C) cost that has not yet been incurred, but based on decisions that have already been made, will be incurred in the future
D) cost that has been incurred, but based on decisions that have already been made, will be not incurred in the future

Question

Quizplus · Accepted Answer

A locked-in cost is a future cost that has not yet been incurred but has been committed to based on decisions that have already been made. It cannot be changed in the short run.

A Locked-In Cost Is A(n) ________