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The stages of labor, in order, include
Marginal Costs
The additional charge associated with making one more unit of a product or service.
Fixed Capital
Assets and investments in physical goods such as buildings and machinery that are not consumed in the production process.
Variable Labor
Labor costs that vary directly with the level of production or business activity.
Average Cost
The total cost divided by the number of units produced, indicating the cost per unit of output.
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