You have been invited by friends to fly to Germany for Octoberfest next year. For international travel, you apply for a passport that costs $105 and is valid for 10 years. After you recel8 your passpoIL You "insufficient funds" You decide to also cancel your travel plans because traveling alone is no fun Is your passport expense a sunk cost or an opportunity cost? Choose the correct answer below. O A. $105 you spent on a passport is a sunk cost because you cannot get your money back OB. $105 you spent on a passport is an opportunity cost because you cannot get your money back OC. $105 you spent on a passport is a sunk cost because you still can travel abroad for 10 more years O D. $105 you spent on a passport is an opportunity cost because you still can travel abroad for 10 more years

You have been invited by friends to fly to Germany for Octoberfest next year. For international travel, you apply for a passport that costs $105 and is valid for 10 years. After you recel8 your passpoIL You "insufficient funds" You decide to also cancel your travel plans because traveling alone is no fun Is your passport expense a sunk cost or an opportunity cost? Choose the correct answer below. O A. $105 you spent on a passport is a sunk cost because you cannot get your money back OB. $105 you spent on a passport is an opportunity cost because you cannot get your money back OC. $105 you spent on a passport is a sunk cost because you still can travel abroad for 10 more years O D. $105 you spent on a passport is an opportunity cost because you still can travel abroad for 10 more years

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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