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Fixed costs associated with producing the product

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Reference no: EM132218158

Help with the following question:

If you were going into business and were going to sell a new high-tech product

What kind of costs would you have to consider before going into operation?

  • What would be some of the fixed costs associated with producing the product?
  • What kinds of variable costs would you have to consider?
  • What would be some of the implicit costs associated with starting your own company?
  • How do these considerations relate back to the three basic economic questions you've learned about?

Reference no: EM132218158

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