Which of the following is a sunk cost?

Operating costs for a new vehicle

Trade in value of old vehicle

Purchase price of vehicle to be traded in

Purchase price of new vehicle

Flag this Question Question 244 pts The benefit foregone by choosing a particular alternative course of action is referred to as a(n)

sunk cost.

opportunity cost.

variable cost.

incremental cost.

Flag this Question Question 254 pts Molly has the following information to evaluateher current salary of $57,000 versus total revenues of $62,000 and expenses of $47,000 from starting a new business. How much is the opportunity cost associated with starting the new business?

$62,000

$15,000

$57,000

$47,000