ECON 1101 – Opening chocolate candy retail business

Opening chocolate candy retail businessConduct research to determine the average per-capita consumption of chocolate candy to determine how much candy you can realistically be expected to sell in a given month.Find a suitable location: a small retail store and define fixed costs such as rent, required insurance, etc. to determine your fixed costs.Set up an appropriate number of hours to be open and determine how many employees you will need and how much you will have to pay them.Data on wages for different occupations in different parts of the country is available from the Bureau of Labor Statistics. (New Mexico).Determine various costs, for example your average fixed and variable costs, and the price at which you can realistically be expected to sell your chocolate candy.Will it turn a profit? Why or why not?APA Format With citationsWord count: 500 to 750

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