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Definition of first cost noun from the Oxford Advanced Learner's Dictionary

first cost

noun
 
/ˈfɜːst kɒst/
 
/ˈfɜːrst kɔːst/
(also prime cost)
[countable, uncountable] (business)
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  1. the cost of something calculated by adding the cost of materials used to make it and the cost of paying somebody to make it, but not including costs that are connected with running a business, such as rent and electricity

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