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Variable Cost
Costs that change in proportion to the good or service that a business produces.
Profit
The financial gain obtained when the revenue from selling goods or services exceeds the total cost of producing them.
Fixed Costs
Costs that remain constant regardless of a business's operational levels, including rent, salaries, and loan repayments.
Break-Even Point
The point at which total costs and total revenues are equal, resulting in no gain or loss for the business.
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