Favel abroad for 10 more years OC. $105 you pent on a passport is a sunk cost because yo annol get your money back OD. $105 you pent on a passport is a sunk cost because yo till can travel abroad for 10 more vears Click t elect your answer

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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12:39
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You hava been invited by triends to fly to
Germany for Octoberfest next year. For
international travel you apply for a passport that
costs $105 and is valid for 10 years After you
receive your passport, your travel companions
decide to cancel the trip because of
"insufficient funds " You decide to also cancel
your travel plans because traveling alone is no
fun Is your passport expense a sunk cost or an
opportunity cost? Choose the correct answer
below OA S105 you spent on a passport is an
opportunity cost because you cannot get your
money back OB $105 you spent on a passport
is an opportunity
travel abroad for 10 more years OC. $105 you
spent on a passport is a sunk cost because you
cannol get your money back OD. $105 you
spent on a passport is a sunk cost because you
still can travel abroad for 10 more vears Click to
ecause you stil can
select your answer
Transcribed Image Text:12:39 Expert Q&A Done You hava been invited by triends to fly to Germany for Octoberfest next year. For international travel you apply for a passport that costs $105 and is valid for 10 years After you receive your passport, your travel companions decide to cancel the trip because of "insufficient funds " You decide to also cancel your travel plans because traveling alone is no fun Is your passport expense a sunk cost or an opportunity cost? Choose the correct answer below OA S105 you spent on a passport is an opportunity cost because you cannot get your money back OB $105 you spent on a passport is an opportunity travel abroad for 10 more years OC. $105 you spent on a passport is a sunk cost because you cannol get your money back OD. $105 you spent on a passport is a sunk cost because you still can travel abroad for 10 more vears Click to ecause you stil can select your answer
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