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Question 6 5 pts Suppose that you value a hat from your favorite university at $20. The university bookstore has the hat on s
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Answer #1

Ans) Sunk cost are the cost which are already occured and cannot be recovered. While making future decisions, sunk costs are not considered as we cannot do anything about it.

Since you lost the hat, and it costs $15 while you value it $20, you should buy the hat.

Option a.

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