Examlex
Explain how a search engine works.
Production Costs
The costs associated with producing a product or providing a service, which encompass labor, materials, and overhead expenses.
Marginal Cost
The extra expense resulting from the production of a single additional product or service unit.
Fixed Cost
Fixed costs are business expenses that remain unchanged regardless of the level of production or sales, such as rent, salaries, and insurance premiums.
Output
The cumulative sum of products and services generated by an economy.
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