Thank you for the opportunity to help you with your question!
a sunk cost is a cost that has been incurred already and cannot be recovered. Sunk costs sometimes are contrasted with prospective costs. These are future coststhat may be incurred or changed in case an action is taken.
Please let me know if you need any clarification. I'm always happy to answer your questions.
Oct 6th, 2015
Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.