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What is the key difference between accounting and economic profit? How does economic profit and loss regulate the flow of economic resources? What is the

  • What is the key difference between accounting and economic profit?
  • How does economic profit and loss regulate the flow of economic resources?
  • What is the sunk cost fallacy?
  • Which school of thought believes that the sunk cost fallacy is common?
  • Can you think of an example when you have fallen into the sunk cost fallacy?

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