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If you take an antacid:
Total Cost
Total cost refers to the aggregate sum of all costs, both fixed and variable, incurred by a business in producing goods or services.
Fixed Cost
Fixed cost is an expense that does not change with the level of production or sales, such as salaries, rent, and insurance.
Variable Cost
Costs that change directly with the level of production or service output.
Total Cost
The aggregate expenditure incurred by a business to produce, buy, or sell goods and services, including fixed and variable costs.
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