Tony Bell's "Relevant Costs for Decision-Making: Sunk and Differential Costs"

Watch this video, in which Tony Bell lays out the relevant costs for decision-making and defines some of the terms that he will use in the remainder of this series. Remember, sunk costs are not relevant to decision-making, but differential costs (different costs between alternatives) are relevant.

Last modified: Tuesday, October 4, 2016, 4:30 PM