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Describe, in biochemical terms, how bread becomes stale.
Sunk Costs
Costs that have already been incurred and cannot be recovered, which should not influence ongoing investment decisions.
Opportunity Costs
The cost of opting for one alternative over another, typically representing the benefits one misses out on when choosing a particular option.
Variable Costs
Expenses that change in proportion to the activity of a business, such as costs for raw materials or production supplies.
Opportunity Costs
The cost of forgoing the next best alternative when making a decision.
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