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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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