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An S corporation can claim a deduction for its NOL carryovers.
Industry Supply Curve
A graphical representation that shows the relationship between the price of a good and the total output of that good by all firms in the industry.
Marginal Cost Curve
A graphical representation showing how the cost of producing one additional unit of a good varies as production volume changes.
Raw Materials
The basic materials from which products are manufactured or made.
Average Total Cost
The total cost of production divided by the quantity produced, encompassing both fixed and variable costs to provide a per-unit cost basis.
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