MiniMato
  • MiniMato
Suppose you’re absolutely confident that you’ve misplaced a $5 bill somewhere in your neighborhood. How long will you search for that money? Explain your answer, using the concept of sunk costs in your explanation.
Economics - Financial Markets
  • Stacey Warren - Expert brainly.com
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SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
chestercat
  • chestercat
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MiniMato
  • MiniMato
I don't really understand this question, could someone explain it to me. How would the concept of sunk costs even apply to this situation? This is one of those "no wrong answers" kind of questions, but it doesn't make much sense to me. Is the $5 supposed to be a past cost of a decision?
anonymous
  • anonymous
Sunk cost is cost that can't be recovered. I think this example isn't a very good one for sunk cost... You will search for the $5 depends on a few things: How much it actually worth to you (if you are a kid and have no income, $5 can mean quite a bit), How many people are in the neighborhood, How long has it been since you lost it,... Or you'll just accept it has been lost and move on. (that's realizing sunk cost)
MiniMato
  • MiniMato
@nphuongsun93 Okay thanks! After spending an awful lot of time thinking about it, I think I got it. And I agree, this is not a good example to use for sunk cost

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