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
Answer:
The main implication of the price elasticity in the various technology products may lead increase the productivity of the products as customers buy more products due to the cheaper price of the product.
as die to the time lower costs will prompt higher deals volumes, which may compensate for the lower overall revenue. Now and again, raising the cost of your item or administration will prompt higher overall revenues yet will bring down your business volumes.
It also offer many advantages like high reliability, security and the scalability.
