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What are sunk costs? Opportunity costs? Incremental costs? What is meant by relevant costs? how are sunk costs they different from incremental costs? Give examples

What are sunk costs? Opportunity costs? Incremental costs? What is meant by relevant costs?

how are sunk costs they different from incremental costs? Give examples

companies often choose to keep an unprofitable product line, segment, or department. Why is this so? What reasons can we think of for which the company may decide to do so? Examples?

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