A. It should always be considered in future decision making
B. It is the only cost relevant for pricing
C. It increases with output in the long run
D. It is a cost that has already been incurred and should be ignored in future decisions
Answer: Option D
Solution (By JKSSB Mock Tests)
Sunk costs are costs that have already been incurred and cannot be recovered. Rational decision-making requires ignoring sunk costs and focusing on future (incremental) costs and benefits.
Explanation:
An increase in government spending raises aggregate demand, shifting the IS curve to the right, leading to higher income and interest rates in the short run.
Explanation:
Platform work is labour provided through, on or mediated by digital platforms, typically characterised by short-term tasks, algorithmic management and a triangular relationship between platform, worker and client.
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