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Total Costs
The full price of manufacturing, which includes both constant and fluctuating expenses.
Labor Cost
The total expenditure incurred by a company to pay its employees, including wages, benefits, and taxes.
Total Cost Ratio
Represents the sum of all costs (fixed and variable) associated with production, expressed as a ratio over a specific period.
Elasticity
An economic measure of the responsiveness of the quantity demanded or supplied of a good or service to changes in its price or consumer income.
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