Discussion of cost of production


Problem: From the discussion of cost of production and your previous commentary on the type of business you would like to operate; consider the cost of production - for example, the fixed cost and variable cost - "Do you think your firm will have more fixed cost of variable cost? Why? What are they?

What are some potential dangers? For example, usually firms that are fixed cost heavy, have very difficult time during recessions such as now.

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Microeconomics: Discussion of cost of production
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