1. Distinguish between the different types of costs that were examined this week, such as sunk costs, opportunity costs, and outlay costs. [please also mention other costs that are not listed]
2. What costs are relevant to decision making?
3. How do managers overcome the natural tendency to consider historical and sunk costs when evaluating business alternatives?
Approximately 500 - 1200 words max. Please in cite referencing [Harvard style] and Harvard Referencing.
Please use Journal articles.
One or two real life examples