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What exactly is the advantage of the principle of comparative advantage?
Direct Labor Hour
A direct labor hour measures the actual time spent by workers directly involved in the production of goods or services, used for costing and operational efficiency.
Insurance Costs
Expenses associated with purchasing insurance policies to protect against risks.
Straight-line Depreciation
A method of allocating an asset's cost evenly across its useful life.
Per-unit Cost
The cost incurred to produce, maintain, or sell one unit of a product or service, calculated by dividing total costs by the number of units.
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