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Describe how to implement a strategic plan.
Fixed Costs
Costs that remain constant regardless of the amount of goods produced or sold, like wages or lease payments.
Marginal Costs
The extra expense incurred from making one more unit of a product or service.
Average Cost
The total cost of production divided by the number of goods produced, showing the cost of producing each unit.
Marginal Cost
The cost incurred to produce one additional unit of a product or service.
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