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Income Tax
A tax imposed by a government on the financial income generated by individuals or entities within its jurisdiction.
Plant Capacity
The maximum level of output that a company can sustain to produce in a given period under normal conditions.
Opportunity Cost
The cost of foregoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over another.
Sunk Cost
A cost that has already been incurred and cannot be recovered.
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