The term cost implication means the actual cost that something will entail. For instance, if a person wants to decide how much having a child will cost, he has to take into consideration all the cost implications that are involved with raising a child, such as food, clothing, medical expenses and school.
I think it means errors
It means that the material has a low density. The practical implication is that a lot of it doesn't weigh much.
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Innuendo