Multiple Choice
You decide to purchase a car for $12,000. Upon driving the car off of the lot, the resale value of the car falls to $9,000. After purchasing the car, the $12,000 purchase price represents a(n) :
A) average cost.
B) implicit cost.
C) sunk cost.
D) nonsunk cost.
Correct Answer:
Verified
Correct Answer:
Verified
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