Sunk costs should not be considered when making decisions. 1. Define sunk cost. 2. Explain why economists

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Sunk costs should not be considered when making decisions.
1. Define sunk cost.
2. Explain why economists advise individuals to ignore sunk costs.

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Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Question Posted: Feb 12, 2016 07:40 AM

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Sunk costs should not be considered when making decisions. 1. Define sunk cost. 2. Explain why economists

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1 A sunk cost is a cost incurred in the past that cannot be changed by ...View the full answer

Economics

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