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Author Question: Refer to Table 2-13. What is Tammi's opportunity cost of bathing a cat? A) two groomed dogs B) ... (Read 57 times)

Collmarie

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on: Jun 29, 2018
Refer to Table 2-13. What is Tammi's opportunity cost of bathing a cat?
 
  A) two groomed dogs B) one and a half groomed dogs
  C) two-thirds of a groomed dog D) half a groomed dog

Question 2

Why is a sunk cost irrelevant to a firm's current decisions?
 
  What will be an ideal response?


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tuate

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

Sunk cost is irrelevant because it cannot be changed by any decision. It is already incurred and so must be paid. The only costs that concern the firm are costs that the firm can change with its current decisions.


Collmarie

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Reply #2 on: Jun 29, 2018
Thank you


tuate

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Reply #3 on: Jun 29, 2018
No problemo


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