Question: Explain the following costs and classify them into relevant or irrelevant costs. a. Sunk costs. (2 marks) b. Avoidable costs. (2 marks) c. Differential costs.

Explain the following costs and classify them into relevant or irrelevant costs.

a.

Sunk costs.

(2 marks)

b.

Avoidable costs.

(2 marks)

c.

Differential costs.

(2 marks)

d.

Opportunity cost.

(2 marks)

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