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You already spent $1,000 in fixing your old car last year. Now, the brakes are up for replacement. The expense of $1,000 last year is

You already spent $1,000 in fixing your old car last year. Now, the brakes are up for replacement.

The expense of "$1,000" last year is an example of

sunk cost

Negative (erosion) side effect

opportunity cost

Positive (synergy) side effect

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