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What are some of the common types of physical transmission media and what differentiates them from one another?
Fixed Costs
Costs that remain constant regardless of production or sales volume, including rent, salaries, and insurance fees.
Birthday Cakes
Bespoke or pre-made cakes specifically designed and decorated for celebrating someone's birthday.
Marginal Cost
The escalation in expenses resulting from the creation of one additional unit of a product or service.
Output
The quantity of goods or services produced within a certain period by a firm, industry, or country.
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