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Fixed Costs: A one-time cost will be required to produce or deliver a product or service, such as constructing a new office or lab space

Fixed Costs: A one-time cost will be required to produce or deliver a product or service, such as constructing a new office or lab space (Whaley et al., 2020). This occurs once and does not vary based on the number of products or services delivered (Whaley et al., 2020)

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