Chpt 2 differential cost, an opportunity cost, or a sunk cost
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differential cost
the difference in cost of two alternatives
opportunity cost
the potential benefit or income that is given up as a result of selecting an alternative over another
Opportunity cost
Benefits from a new DNA analyzer
Differential cost
Cost of electricity to run the X-ray machines
Differential cost
Cost of the new color laser printer
Sunk cost
Cost of the old X-ray machine
None
Rent on the space occupied by Radiology
Differential cost
The cost of maintaining the old machine
None
The salary of the head of the Radiology Department
sunk cost
costs that have already been incurred and cannot be changed by any decision