Examlex
Which of the following statements is not true?
Total Costs
The aggregate amount of all costs associated with the production or offering of goods and services, including fixed and variable costs.
Output
The quantity of goods or services produced in a given time period.
Total Fixed Costs
The sum of all costs required to produce any level of output that do not change with the quantity produced, such as rent or salaries.
Workers
Individuals engaged in physical or mental activities aimed at producing goods or providing services in exchange for wages.
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