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What Does Perception Have to Do with Encoding and Decoding

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What does perception have to do with encoding and decoding?


Definitions:

Production Costs

The expenses incurred in the process of creating goods or services, including labor, materials, and overheads.

Equilibrium Price

The rate at which the quantity of goods on offer is equal to the quantity of goods consumers are willing to buy.

Domestic Price

The cost of goods, services, or commodities within a country's borders, unaffected by international tariffs or duties.

Tariff Revenue

The income generated by a government from imposing taxes on imported and exported goods.

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