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Suppose you want to start your own business. Provide a name for your business and a one-line description of the product/service that you plan to

Suppose you want to start your own business. Provide a name for your business and a one-line description of the product/service that you plan to sell. What are your implicit costs of running your business? Why are those costs categorized as implicit costs? \

What would be your explicit costs of running your business? Why are those costs categorized as explicit costs?

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