Which of the following is NOT a type of cost in the short run?
A. Sunk cost as the only long-run cost
B. Variable cost
C. Fixed cost
D. Total cost
Answer: Option A
Solution (By JKSSB Mock Tests)
In the short run, costs are classified as fixed, variable and total. Sunk costs are costs that have already been incurred and cannot be recovered, relevant in both short and long run decisions.
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