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Assume you are making your product and trying to do it in the least costly way. As you are figuring out what you will need
Assume you are making your product and trying to do it in the least costly way. As you are figuring out what you will need you decide you will need workers to make your product effectively. To get them to work you'll need to pay each of them $ Before your workers can start they need Fabric. After some research you find you need units of Fabric costing you $ unit. Once you get the Fabric you need Needelingsowing machines to help you get started which cost $ for each of the ur you need. Finally, as an entrepreneur you'll need to compensate yourself $ for what amounts to units of entrepreneurship skills. You can sell units of your product for a price of $ unit.
Based on the information above find the total revenue TR total cost TC and profits for your business. Please also select the correct option in the ProfitLoss dropdown and the Resources moving TowardAway from that industry dropdown.
What is your total revenue?
What is your total cost?
Total Revenue $
Total Cost $
What are your profitslosses Please fill out the textbox and use the dropdown menu.
ProfitLoss $
ProfitLoss
Should resources move toward or away from the Retail industry?
Resources TowardAway
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