Examlex
Regarding olfaction and gustation, which of the following statements is FALSE?
Total Cost
Total cost is the sum of all expenses incurred in the production of goods or services, including fixed and variable costs.
Labor
The effort by humans to produce goods or services in exchange for wages or salary.
Machines
Mechanical or electrical devices that perform or assist in performing tasks or calculations.
Average Cost
The total cost of production divided by the number of units produced, indicating the cost per unit of output.
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