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Mike is deciding on whether to take Uber or subway to attend a concert in Lincoln...

Mike is deciding on whether to take Uber or subway to attend a concert in Lincoln Center. He has already bought monthly subway ticket. The monthly subway ticket in this decision (of taking Uber or subway) is a
 sunk cos,t relevant cost ,none of the above , relevant cost

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Answer #1

The monthly subway ticket here is a sunk cost since it is already incurred and cannot be recovered.

It becomes irrelevant for the decision of taking uber or subway

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