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What is the last mineral to form according to Bowen's reaction series?
User Cost
Refers to the cost associated with the consumption of a good which decreases its remaining value for future use.
Opportunity Cost
The expense incurred by not choosing the second-best option available during decision-making.
Marginal Product
The additional output produced as a result of employing one more unit of a particular input, assuming all other inputs remain constant.
Total Cost
The complete cost of production, including both fixed and variable costs, incurred by a business in the production of goods or services.
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