Answer:
The term "technical cost" describes the expenses incurred in the design, implementation, and upkeep of a technical solution, such as a system or product of technology. It covers costs for overhead, materials, labor, equipment, and facilities as well as for research and development. As it impacts the final price and profitability of the product, technical cost is an important consideration in the development and manufacturing of technological products. The cost of manufacture and the intended degree of performance and utility of the product is frequently traded off. The most cost-effective solution to a technical challenge is found through technical cost analysis, which takes into account things like the estimated life cycle of the solution, its complexity, and the size of production.
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