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All of the following facial expressions are universal EXCEPT
Total Costs
The aggregate amount of all expenses associated with the production of a good or service, including both fixed and variable costs.
Implicit Costs
These are the costs of using resources owned by the company for production that aren't directly paid for or incurred as a clear expense.
Explicit Costs
Direct payments made to others in the course of running a business, such as wages, rent, and materials.
Normal Rate
The normal rate often refers to a baseline or average level of interest or return expected on an investment or loan in economics and finance.
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