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Total Fixed Costs
Expenses incurred by a business that do not vary with the level of production or sales, including lease payments and salaries of permanent staff.
Total Variable Costs
The sum of all costs that vary with the level of production, including materials and labor.
Total Variable Costs
The sum of all costs that vary directly with the level of production or output.
Total Fixed Costs
Expenses that do not change with the level of production or sales over a certain time period, such as rent or salaries.
Q2: Heuristic Biases.
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Q97: A leftward shift of the supply curve