Question

The lesson of __________ is to forget about the money that's irretrievably gone and instead to focus on the marginal costs and benefits of future options.sunk costsopportunity costsmarginal analysisbudget constraints

Answer 1

Sunk costs

Step-by-step explanation:

A sunk cost is a cost that can not be recovered, due to this they should not be considered when deciding to invest, instead they should consider earlier investments.

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Answer 2

Answer: sunk costs

Explanation:These are costs that are already paid.

Hence,it is irational to honor sunk costs (to take them into account when making a decision) because intuitively, sunk costs are already gone. They're gone no matter what decision you make; Instead, look into the future to make the best decision that you can.