Author Question: A sunk cost is A) the cost for drilling certain types of wells, such as a well for water. B) a ... (Read 37 times)

gonzo233 · **on:** Jul 1, 2018

A sunk cost is

A) the cost for drilling certain types of wells, such as a well for water.
B) a past cost that cannot be recovered.
C) a cost that is highly relevant for decision-making.
D) an opportunity cost.

Question 2

In the short run, a monopolistic competitor

A) produces at minimum efficient scale.
B) produces where P = AC.
C) sets P = MC.
D) sets MR = MC.