UNABSORBED COSTS Definition

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UNABSORBED COSTS occurs when the cost structure does not fully reflect all variable and/or fixed costs.

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PATENT is a legal form of protection that provides a person or legal entity with exclusive rights to exclude others from making, using, or selling a concept or invention for the duration of the patent. There are three types of patents available: design, plant, and utility.

INCREMENTAL COST is the increase or decrease in costs as a result of one more or one less unit of output.

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