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Suppose you want to start your own small business (e.g. Caroline’s Cookie Factory.) Short introduction of your business. What are the costs associated with your small business? Explain and compute hypothetical costs according to various cost concepts introduced in this chapter 13. Assume any realistic market price. Assume short run (one month or less) production capacity. Assume Long run (about 5 years or longer duration). Also assume any other thing that is necessary for your small business plan. KEEP THINGS SIMPLE. I AM JUST TESTING YOUR CONCEPTS
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