The sunk costs of marriage are: (select all that apply)Group of answer choicesThe money spent on wedding ringsThe time spent at the wedding and wedding receptionThe future costs of marriage counsellingThe possible costs of getting divorced
Question
The sunk costs of marriage are: (select all that apply)Group of answer choicesThe money spent on wedding ringsThe time spent at the wedding and wedding receptionThe future costs of marriage counsellingThe possible costs of getting divorced
Solution
The sunk costs of marriage are:
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The money spent on wedding rings: This is a sunk cost because once you've purchased the rings, you cannot recover the money spent even if the marriage ends.
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The time spent at the wedding and wedding reception: This is also a sunk cost. The time you've spent on these events cannot be recovered.
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The future costs of marriage counselling: This is not a sunk cost. Sunk costs are costs that have already been incurred and cannot be recovered. Future costs do not fall into this category.
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The possible costs of getting divorced: This is also not a sunk cost for the same reason as above. It's a potential future cost, not a cost that has already been incurred.
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