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Identify/define and explain the significance of the following: Rabelais.
Future
A term referring to events that have not yet occurred or financial contracts regarding assets to be delivered or transacted at a later date.
User Cost
The opportunity cost of using a durable good or natural resource, factoring in depreciation and the forgone interest that could have been earned if the money was invested elsewhere.
Total Cost Curves
A graphical representation showing how the total cost of production changes with the level of output, typically upward sloping due to rising production costs.
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