Examlex
Research suggests workers are more likely to have a breakthrough idea when they are:
Sunk Cost
Costs that have already been incurred and cannot be recovered or refunded, and should not influence future business decisions.
Average Fixed Cost
The cost incurred for fixed inputs (rent, salaries) divided by the quantity of output produced, which decreases as production increases.
Variable Cost
Costs that vary directly with the level of production or output, such as materials and labor, in contrast to fixed costs.
Total Cost
The complete sum of all expenses incurred by a business or individual in producing a good or service.
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