Question

Difference between opportunity cost and sunk cost

Answer 1

Answer:

Explanation:

Sunk costs are the costs that you have already incurred. This is the money that you have put into some particular endeavor and which you can not recoup. For example, if you buy machinery to produce a certain product, the price of that machinery is sunk. ... Opportunity costs must be considered when making decisions

Hope it helps you.. . .

Have a great day.. .

Thanks