(Solved): are irrelevant for rational decision making. A(n) is a cost that has already been incurred and cann ...

are irrelevant for rational decision making. $A(n)$ is a cost that has already been incurred and cannot be recovered. A good example for in the oil and gas industry is the cost that has been spent on drilling a well for the decision of whether the well should be abandoned. [An oil or gas well is the term for any hole through the earth's surface designed to find and release oil and gas hydrocarbons.] Sunk costs, sunk cost, sunk cost recoverable costs, variable cost, recoverable cost Opportunity costs, marginal cost, sunk cost Sunk costs, opportunity cost, marginal cost Marginal costs, opportunity cost, opportunity cost