Question

A cost that has already been made and cannot be recovered is called a

Answer 1

Answer:

In economics, the concept known as the sunk cost can be defined as the cost that was incurred and cannot be recovered. ... Note that option A. is incorrect because marginal cost is the additional cost of producing one more unit.

Answer 2

Explanation:

In economics and business decision-making, sunk costs are retrospective (past) costs that have already been incurred and cannot be recovered. Sunk costs are sometimes contrasted with prospective costs, which are future costs that may be incurred or changed if an action is taken. Sunk costs may cause cost overrun.

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