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Which one of the following is an example of an external cost?
Empathic Understanding
The ability to understand and share the feelings of another person from their perspective as a means to better cater to their needs and expectations.
Business Analysis
The practice of identifying business needs and determining solutions to business problems.
Product Development
The process of bringing a new product from concept to market, involving idea generation, design, development, and commercialization stages.
Demand
The desire or need for goods and services by consumers at a given price point and time.
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