A locked-in cost is a(n):
A)cost that can be changed in the short run.
B)cost that has not yet been incurred but,based on decisions that have already been made,will be incurred in the future.
C)opportunity cost that is fixed in the short run.
D)cost that has been incurred,but based on decisions that have already been made,will not be incurred in the future.

Question

Quizplus · Accepted Answer

A locked-in cost is a cost that has not yet been incurred but based on decisions that have already been made, will be incurred in the future. It cannot be changed in the short run. Options A, C, and D do not accurately describe a locked-in cost.

A Locked-In Cost Is A(n)