--%>

Differences between Sunk Cost and Incremental cost

Illustrates the differences between Sunk Cost and Incremental cost?

E

Expert

Verified

Sunk Cost:

Sunk costs are those that have already been incurred and that cannot be changed by any decision made here or in the future. Such are past or historical costs.

Incremental cost:

It is additional costs incurred because of a change in the level or nature of activity.

   Related Questions in Managerial Economics

  • Q : Income and Substitution Effects of

    When the substitution effect of a wage raise dominates the income effect, in that case the: (1) labor supply curve will be "backward bending." (2) value of the marginal product will exceed the wage rate. (3) labor force participation

  • Q : Huge parts of the enormous incomes

    Huge parts of the enormous incomes earned through some gifted athletes and performers are pure economic: (w) wages. (x) profits. (y) interest. (z) rents. Hello guys I want your advice. Please recom

  • Q : What did professor Hidbon illustrates

    What did professor Hidbon illustrates about Demand?

  • Q : Influenced demand for labor When the

    When the demand for labor influenced by the minimum wage is wage elastic, increasing the minimum wage would: (w) increase total wages received by low wage workers. (x) reduce total wages received by low wage workers. (y) not affect th

  • Q : Problem on Occupational Crowding After

    After vacationing hundreds of restaurants, then a restaurant critic has concluded which in almost all the workers who clear tables and also wash dishes appear to be illegal aliens by Mexico. The critic has observed a phenomenon termed as: (1) marginalized labor. (2) t

  • Q : Illustrates the important leading

    Illustrates the important leading indices?

  • Q : Backward bending of individual labor

    The labor supply curve facing a firm or industry is all the time upward sloping still when individual labor supply curves are backward bending since: (w) at higher wages everyone will supply more hours of work. (x) firms never pay wag

  • Q : Illustrates terms total cost

    Illustrates the terms total cost, average cost and also marginal cost?

  • Q : Illustrates the Expert Opinion method

    Illustrates the Expert Opinion method of Demand Forecasting?

  • Q : The Income Effect by Supply of Labor

    Along a supply curve for an individual’s labor, there the income effect tends to rise the: (1) supply of work as wages reduce the number of people a firm will hire. (2) demand for leisure as the wage rate and income raise. (3) l