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Discuss the significance and impact of the civil service examination on Chinese society. Who benefited and who did not from the system? Was it actually based upon merit? Why or why not?
Total Product
The total amount of output that a firm produces, usually measured over a certain time period, using all available inputs.
Total Costs
The sum of all expenses a company incurs to produce its goods or services, including fixed and variable costs.
Average Variable Costs
The total variable costs of production divided by the quantity of output produced.
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