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Author Question: A sunk cost is A) the cost for drilling certain types of wells, such as a well for water. B) a ... (Read 74 times)

gonzo233

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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.


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owenfalvey

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


gonzo233

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

gcook

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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