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Wages Paid
The amount of money workers receive from employers in exchange for their labor.
Sunk Costs
Sunk costs are past expenditures that have already been incurred and cannot be recovered, and thus should not impact future decision-making.
Past Costs
Refers to expenses that have already occurred and cannot be recovered.
Marginal Costs
The supplementary cost that comes with producing an extra unit of a good or service.
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