Author Question: What is the difference between sunk costs and marginal costs?[br][br][b][color=#9E3EA8]Question ... (Read 67 times)

serike · **on:** Jun 30, 2018

What is the difference between sunk costs and marginal costs?

Question 2

According to neuroeconomists, the limbic portion of the brain called the amygdala is more primitive and deals with emotion.
a. True
b. False
Indicate whether the statement is true or false

Benayers · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

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.

Answer to Question 2

True