Why are relevant costs important in decision making? Explain sunk costs, incremental costs, opportunity costs, make...

Why are relevant costs important in decision making? Explain sunk costs, incremental costs, opportunity costs, make or buy decisions and strategic costing giving examples of each.

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ekkarill92 answered 1 year ago

Why don't we include sunk costs in decision making? Define relevant costs and opportunity costs and...

Why don't we include sunk costs in decision making? Define relevant costs and opportunity costs and explain how they're different from sunk costs.

Why is it that sunk costs are never relevant to a decision whereas opportunity costs are...

Why is it that sunk costs are never relevant to a decision whereas opportunity costs are always relevant? Why do you think Goldratt’s Theory of Constraints received so much press by the business community?

How do incremental, opportunity and sunk costs weigh into a make or buy decision? Apply these...

How do incremental, opportunity and sunk costs weigh into a make or buy decision? Apply these concepts to a decision that a company is trying to make.

Are opportunity costs relevant to decision making?

Differentiate between opportunity costs and sunk costs. Are they used differently in decision-making? Explain.

Give two examples of sunk costs, and explain why they are irrelevant in decision making.

1. What is a Sunk costs and how relevant is this cost in a decision-making.? 2....

1. What is a Sunk costs and how relevant is this cost in a decision-making.? 2. What is Opportunity costs and how relevant is this in making a decision.? 3. Excess or unused capacity are key element in a decision to accept or reject a special offer price on a product or activity what is your understanding of this concept.? 4. What is the different between avoidable and unavoidable cost? 5. Quantitative factors vs Qualitative factors, how useful are these...

"Sunk costs are never relevant in decision making." Yet, the world and our personal lives are...

"Sunk costs are never relevant in decision making." Yet, the world and our personal lives are full of examples where sunk costs heavily affected our choices. Share with the class some examples you’ve found in your research or your personal experiences of allowing sunk costs to influence decisions. How can we prevent this bias in the future?

Sunk or Opportunity costs. Explain the difference between a sunk cost and an opportunity cost and...

Sunk or Opportunity costs. Explain the difference between a sunk cost and an opportunity cost and give an example of each. please explain in depth.

Why should sunk costs be ignored for decision making? Give an example of why it makes...

Why should sunk costs be ignored for decision making? Give an example of why it makes sense to ignore sunk costs and why it is often difficult to do so.

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