Examlex
What is the function of the FMR1 gene?
Explicit Costs
Expenses directly incurred in the course of running a business, such as wages and materials.
Economic Costs
The total value of all resources used in the production of a good or service, including both explicit and implicit costs.
Normal Rate
A term often used to refer to the standard or commonly accepted rate for a financial or economic measurement, but can vary by context.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or investment.
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