1.1. You have decided to go into the ice-cream business and have bought a used ice-cream truck...
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1.1. You have decided to go into the ice-cream business and have bought a used ice-cream truck for $8,000. Now you are reconsidering. What is your sunk cost in the following scenarios?
a. The truck cannot be resold.
b. It can be resold, but only at a 50% discount.
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