S E3: Core Principle 2 - The Opportunity Cost Principle - Or What?
Think Like An Economist
Ignore Sunk Costs
Sunk costs refer to the money you have spent that you can't get back. You need to ignore sunk costs, i'm going to say it again, ignore sunk cost. The answers to these questions are unique to you. So when you think like an economist, you'll be applying the tools of economics to make decisions about your life.
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