The answer is D because the rest don’t even make sense
Answer: revisit information
Explanation:
Answer:
sunk cost
Explanation:
Sunk cost -
It refers to the amount of money which is spend and can never be recovered back , is referred to as the sunk cost.
During the process of making any future decision , sunk money is never taken into consideration.
Hence, it differs from the future costs.
Therefore , from the scenario of the question,
The correct term is sunk cost.
Answer:
Option 1 - the opportunity cost of leisure decreases as wages decrease.
Explanation:
The labour supply curve of any occupation will always be upward sloping because when wages, (the opportunity cost of leisure) rises, the more hours of leisure a staff will relinquish to do more work.
The opposite of this is true as seen in option 1 of the question.
Opportunity costs will reduce with a consequent reduction in average wages. When fewer people want to retain their employment due to decrease in wage rates, it would lead to a fall in demand for leisure.