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Operating Costs
Expenses related to the day-to-day functioning of a business, excluding costs associated with production or acquisition of goods.
Total Cost
The complete sum of all expenses incurred in producing, acquiring, or carrying out an activity or service, including direct, indirect, fixed, and variable costs.
Best Alternative
The most favorable option available to a decision-maker when multiple choices are present.
Operating Costs
Expenses associated with the day-to-day functions of running a business, including costs for rent, utilities, payroll, and materials.
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