Fixed costs are often: O Simply errors made by accountants. O Invented by economists to overemphasize profits. O Mistaken for variable costs by seasoned businesspeople. O Variable costs. O Sunk costs that a firm cannot recoup. 2

Fixed costs are often: Simply errors made by accountants. Invented by economists to overemphasize profits. Mistaken for variable costs by seasoned businesspeople. Variable costs. Sunk costs that a firm cannot recoup