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Seth owns a bakery. Seth pays: (1) rent to lease the bakery, (2) upfront costs to buy ingredients, (3) insurance payments, and (4) an hourly
Seth owns a bakery. Seth pays: (1) rent to lease the bakery, (2) upfront costs to buy ingredients, (3) insurance payments, and (4) an hourly wage to compensate his four employees who help with baking and staff the retail counter. What types of costs are these?
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