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For each historical identification question, define the term and briefly describe its historical significance.
Old Kingdom
Total Costs
The total of all expenses involved in creating goods or services, encompassing both fixed and variable costs.
Daily Profit
The financial gain or loss a business experiences on a daily basis, calculated as the difference between daily revenue and daily expenses.
Capacity
The maximum output that a company can produce under normal conditions.
Marginal Costs
The surge in all-encompassing cost following the production of an additional unit of a product or service.
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