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Total Costs
The sum of all costs incurred by a business in producing a certain amount of goods or services.
Variable Costs
Costs that change in proportion to the level of goods or services a business produces.
Fixed Costs
Costs that do not change with the level of production or sales, such as rent, salaries, or insurance premiums, providing stability in budget planning.
Total Costs
The sum of all expenses incurred in the production of goods or services, including both fixed and variable costs.
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