Distinguish between the different types of costs

Reference no: EM13821176

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

Reference no: EM13821176

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