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Monica [59]
3 years ago
14

An incurred cost that cannot be recovered, which is irrelevant for all decisions about the future, is included in the projected

cost of a project. According to "Thinking Like an Economist," this an example of:_____________.
Computers and Technology
1 answer:
iragen [17]3 years ago
3 0

Answer:

An incurred cost that cannot be recovered, which is irrelevant for all decisions about the future, is included in the projected cost of a project. According to "Thinking Like an Economist," this an example of:<u> Failing to ignore sunk costs</u>

Explanation:

A sunk cost is a cost that cannot be recovered or changed and is independent of any future costs a business may incur. Since decision-making only affects the future course of business, sunk costs should be irrelevant in the decision-making process

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