What is the difference between sunk costs and marginal costs?
Sunk costs are incurred by an individual when a past decision cannot be changed or corrected. Such costs cannot be avoided. Marginal costs however, can be avoided if choices or decisions are changed.
Economics
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If at a given wage, the quantity supplied of labor exceeds the quantity demanded of labor:
A) the wage rate will fall. B) the wage rate will increase. C) the aggregate price index will rise. D) the aggregate price index will fall.
Economics
Strategic dependence is found in
A) monopoly markets. B) oligopolistic markets. C) monopolistic competitive markets. D) perfect competitive markets.
Economics