I need 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?
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