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Describe the seven phases of the systems development life cycle.
Variable Costs
Costs that vary directly with the level of production or sales, like raw materials and labor.
Economic Profit
The financial gain that exceeds both the total opportunity costs of production and the accounting costs, reflecting the additional value created from business activities.
Accounting Profit
The profit a company has after deducting all its expenses from its total revenue.
Verizon Wireless
A major American telecommunications company known for providing wireless products and services.
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