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26 December, 20:35

Past costs that are not affected by new decisions are known as

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  1. 26 December, 20:50
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    Past costs that are not affected by new decisions are known as sunk costs. Sunk costs do not need to be taken into account when making new decisions because the money associated with it was already lost and it can not be regained. This money is lost by businesses due to bad decisions, such as poor investments.
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