Question

an economist would explain reece’s decision to be – because she – the prepaid cost, and made her decision based on the marginal benefit and cost of going. in economics these prepaid costs would be referred to as – costs, which are unrecoverable.

Answer 1

An economist would explain Reece’s decision to be rational because she ignored the prepaid cost, and made her decision based on the marginal benefit and cost of going. In economics, these prepaid costs would be referred to as sunk costs, which are unrecoverable.