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You decide to start selling used vinyl music records (LPs) online using your garage as your warehouse. You expect the costs of building the website

You decide to start selling used vinyl music records (LPs) online using your garage as your warehouse. You expect the costs of building the website will be $10,000. You have thousands of LPs sitting around your house and know many other folks who would be willing to sell you their LPs at a bulk wholesale price. Luckily, you also have $5,000 sitting around in a savings account and Mom and Dad are willing to loan you $10,000.

  1. Identify 2 start-up costs. Explain why each is relevant.
  2. Identify 3 fixed costs. Explain why each is relevant.
  3. Identify 2 variable costs. Explain why each is relevant.

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