True/False - Circle the best answer (10 points) T F 1. A recurring cost is repetitive and the amount of money is known in advance. T F 2 Opportunity cost relates to use an available resource to do an activity instead of another activity. T F 3. The breakeven point in a business is when costs are lower than revenues. T F 4. The marginal costs can be used to decide if an additional unit should be bought or made. 5. Sunk costs must be ignored in engineering economic decision making because it is money already spent. T F