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Although illness phobia resembles hypochondria,it differs in that people with illness phobias
Total Cost
The sum of all costs incurred by a business to produce a specific amount of goods or services, including fixed and variable costs.
Average Variable Cost
The total variable costs (costs that change with the level of output) of production divided by the quantity of output produced.
Marginal Cost
The financial outlay for producing an incremental unit of a product or service.
Short-Run Supply
The total quantity of a good or service that businesses are willing and able to sell at current prices in a short time period.
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