What is the distinction between marginal cost and incremental cost, and how are sunk costs treated in managerial decision making and why?

What is the distinction between marginal cost and incremental cost, and how are sunk costs treated in managerial decision making and why?

What is the distinction between marginal cost and incremental cost, and how are sunk costs treated in managerial decision making and why?Answer:Incremental cost is closely related to the…