Which of the following is irrelevant when deciding whether to undertake an action?
A)opportunity costs
B)implicit costs
C)sunk costs
D)implicit costs and explicit costs
E)fixed costs and implicit costs

Question

Quizplus · Accepted Answer

Sunk costs are irrelevant when making decisions because they are costs that have already been incurred and cannot be recovered or changed. Therefore, they should not be considered when deciding whether to take an action or not.

Which of the Following Is Irrelevant When Deciding Whether to Undertake