d) Sunk costs

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Last updated 9:41 PM on 6/28/26
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4 Terms

1
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  • define sunk cost

  • a cost that has already been paid and cannot be recovered

2
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  • define the sunk cost fallacy

  • when a loss-making firm stays in business due to sunk costs

3
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  • state the sources of sunk costs

  • highly specialised assets

  • investments into advertising/R&D

4
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  • n/a

  • n/a