The market value of all resources used in producing a good or service is expressed by:

Name: The market value of all resources used in producing a good or service is expressed by:
Brand: Quizplus
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Total costs represent the total market value of resources used in producing a good or service, including both explicit and implicit costs. Fixed costs refer to costs that do not vary with the level of production, and variable costs refer to costs that do vary with the level of production.

The Market Value of All Resources Used in Producing a Good