Asked by
Daniel Joseph
on Nov 17, 2024
Verified
A cost that will not be affected by later decisions is termed an opportunity cost.
Opportunity Cost
The cost of an alternative that must be forgone in order to pursue a certain action or the benefits you could have received by taking an alternative action.
- Determine and compute sunk costs and their importance in making financial choices.
Verified Answer
AO
Learning Objectives
- Determine and compute sunk costs and their importance in making financial choices.