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You, a 29 year old sexually active male, have discovered some small vesicles on the penis.They are fluid-filled, red, and very painful.This is the second time that you have seen this.The first time around, about 2 months ago, you saw them but managed to ignore them.The lesions went away--no doctor, no treatment.But here they are again.You think that perhaps you picked up this infection six months ago, the last time that you had sex.Identify the likely infection.
Explicit Costs
Direct, out-of-pocket payments for inputs or resources used in the production of goods or services, such as wages for labor, rent for offices, or materials for production.
Implicit Costs
Implicit costs are the opportunity costs of using resources that a company already owns, representing the potential income lost by not utilizing them elsewhere.
Diseconomies of Scale
A phenomenon where an increase in production leads to higher average costs per unit due to inefficiencies, often occurring when companies become too large.
Average Total Cost
The total cost per unit of output, calculated by dividing the total cost of production by the number of units produced.
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