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Luci and Sherry have decided to lease some newly built premises for the purpose of opening a seafood outlet. They intend to provide a wide range of different products, including a variety of seafood for sale and take-away fish and chips.
Question 1: Discuss the types of economic decisions that they will be required to make, and the information that they will need to make those decisions. Distinguish non-economic and economic information, identify non-economic decisions that they will also be required to make. Discuss why Luci and Sherry may require the services of an accountant.
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