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Answer the following questions:
-Battle of Peterloo
Variable Cost
Costs that vary directly with the level of production or volume of output.
Excess Capacity
The situation where a company's production facilities can produce more goods than currently demanded by its market.
General Transfer-Prizing Rule
A principle used to determine the price at which goods and services should be transferred between departments within the same organization.
Opportunity Cost
The expense incurred by not choosing the second-best option available during a decision-making process.
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