(Answered) A vice president of a manufacturing company said we own

Management Studies

A vice president of a manufacturing company said: "We own five acres of land next to our own plant. It won't cost us a thing to use that land for our new expansion wing." That vice president does not fully understand the concept of

a. side-effect costs.
b. sunk costs.
c. fixed costs.
d. opportunity costs.
e. depreciation.

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