... short-term, medium-short term, and medium-term, will then adapt to the long-term definition. As will be apparent from cost theory later on, costs are traditionally and fundamen-tally, without ... completing the initiative. In table 1.5 the profit of the initiative is calculated, both with and without the sunk costs Tabel 1.5: Profits of carrying out the initiative, with or without the sunk ... opportunity cost of activity X. Opportunity costs are also called implicit costs. To an owner of a car the opportunity costs are equal to the value of the best alter-native, in the case that...