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Regarding the erogenous zones, which of the following statements is/are TRUE?
Plant Size
The physical capacity or dimensions of a manufacturing facility.
Implicit Costs
They represent the opportunity costs of using resources that a company already owns, rather than the out-of-pocket expenses.
Economic Costs
The total cost of production, including both explicit costs like wages and materials and implicit costs such as opportunity costs.
Accounting Profit
The total revenue of a business minus the explicit costs associated with that revenue, calculated using generally accepted accounting principles (GAAP).
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