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# Which assumption is often realistic for a firm in the short run

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## What distinguishes short run cost from long run?

The main difference between long run and short run costs is that there are no fixed factors in the long run; there are both fixed and variable factors in the short run. In the long run the general price level, contractual wages, and expectations adjust fully to the state of the economy.

## What distinguishes the short run from the long run for a firm?

“The short run is a period of time in which the quantity of at least one input is fixed and the quantities of the other inputs can be varied. The long run is a period of time in which the quantities of all inputs can be varied.

## What is the marginal product of an input in the production process?

The marginal product of an input is the amount of output that is gained by using one additional unit of that input. It can be found by taking the derivative of the production function in terms of the relevant input.

## What is average fixed cost curve?

The average fixed costs AFC curve is downward sloping because fixed costs are distributed over a larger volume when the quantity produced increases. AFC is equal to the vertical difference between ATC and AVC. Variable returns to scale explains why the other cost curves are U-shaped.

## What distinguishes the very long run from the long run?

Short run – where one factor of production (e.g. capital) is fixed. This is a time period of fewer than four-six months. Very long run – Where all factors of production are variable, and additional factors outside the control of the firm can change, e.g. technology, government policy. A period of several years.

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## What distinguishes the short run from the long run quizlet?

Which of the following distinguishes the short run from the long run in pure competition? Firms can enter and exit the market in the long run but not in the short run. A constant-cost industry is one in which: resource prices remain unchanged as output is increased.

## Why is short run average cost curve U shaped explain?

Short run cost curves tend to be U shaped because of diminishing returns. In the short run, capital is fixed. After a certain point, increasing extra workers leads to declining productivity. Therefore, as you employ more workers the marginal cost increases.

## What is average fixed cost of a firm?

In economics, average fixed cost (AFC) is the fixed costs of production (FC) divided by the quantity (Q) of output produced. Fixed costs are those costs that must be incurred in fixed quantity regardless of the level of output produced. Average fixed cost is fixed cost per unit of output.

## What methods can be used to calculate average total cost?

Average total cost (ATC) is calculated by dividing total cost by the total quantity produced. The average total cost curve is typically U-shaped. Average variable cost (AVC) is calculated by dividing variable cost by the quantity produced.

## What is short run cost curve?

What is Short Run Cost Curve ? Ashort-run cost curve shows the minimum cost impact of output changes for a specific plant size and in a given operating environment. Such curves reflect the optimal or least-cost input combination for producing output under fixed circumstances.

## Which of the following cost curve is U-shaped?

The marginal cost curve is usually U-shaped. Marginal cost is relatively high at small quantities of output; then as production increases, marginal cost declines, reaches a minimum value, then rises.

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## Why are long run average total cost curves often U-shaped?

It is because of the increasing returns to scale in the beginning that the long-run average cost of production falls as output is increased and, likewise, it is because of the decreasing returns to scale that the long-run average cost of production rises beyond a certain point.

## What is short-run example?

The short run in this microeconomic context is a planning period over which the managers of a firm must consider one or more of their factors of production as fixed in quantity. For example, a restaurant may regard its building as a fixed factor over a period of at least the next year.

## How are the short-run cost functions of the firm estimated?

In the short run, one or more inputs are fixed, so the firm chooses the variable inputs to minimize the cost of producing a given amount of output. … Then we evaluate the cost of K, L, and Land to get the total cost function.

## Which factors are used in short-run production process?

The term “short-run production” refers to a production cycle in which at least one factor is fixed. Most companies have multiple factors that they use to produce goods or services. Also known as input factors, they can consist of labor, materials, equipment, capital and real property.

## What is the short run production decision of the firm?

Implications of a Shutdown

If the market conditions improve, due to prices increasing or production costs falling, then the firm can resume production. Shutdowns are short run decisions. When a firm shuts down it still retains capital assets, but cannot leave the industry or avoid paying its fixed costs.

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## What runs short run production?

Short-run production refers to production that can be completed given the fact that at least one factor of production is fixed. More often than not, this refers to a firm’s physical ability to produce, but it doesn’t always have to be that.

## What is short run analysis?

SHORT-RUN PRODUCTION ANALYSIS: An analysis of the production decision made by a firm in the short run, with the ultimate goal of explaining the law of supply and the upward-sloping supply curve. … If productivity declines, then more of the variable input is needed as the quantity produced increases.

## What happens in the short run?

The short run is a concept that states that, within a certain period in the future, at least one input is fixed while others are variable. In economics, it expresses the idea that an economy behaves differently depending on the length of time it has to react to certain stimuli.

## What is short production?

Production is the process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). It is the act of creating an output, a good or service which has value and contributes to the utility of individuals.

## What is short run in perfect competition?

The short-run (SR) supply curve for a perfectly competitive firm is the marginal cost (MC) curve at and above the shutdown point. Portions of the marginal cost curve below the shutdown point are not part of the SR supply curve because the firm is not producing any positive quantity in that range.

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# What is 45 45 in the army

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## What does 45 mean in military?

Military Time Conversion Chart

## What does 45 45 mean in the Navy?

United States. In the United States Armed Forces, non-judicial punishment is a form of military justice authorized by Article 15 of the Uniform Code of Military Justice. NJP permits commanders to administratively discipline troops without a court-martial.

## What can you get NJP for?

Non-Judicial Punishment (NJP) is known by different terms among the services, such as “Article 15,” “Office Hours,” or “Captain’s Mast.” The purpose of NJP is to discipline service members for minor offenses such as reporting late for duty, petty theft, destroying government property, sleeping on watch, providing false

## How long is extra duty in the Army?

Extra Duty & Restricted Counseling

Weekdays Extra duty is from 1800 until mission complete or No Earlier Than 2300. Saturdays, Training Holidays, Holidays report times are 0900-2300. Sundays report times are 1300-2300. Extra duty personnel will be released when all tasks are completed but NET 2300.

## Is Captain’s Mast a court-martial?

Article 15 of the Uniform Code of Military Justice authorizes commanders to discipline service members without having to convene, or put together, a court-martial. Hence, it is also called non-judicial punishment (Captain’s Mast in the Navy) because it does not involve the judicial system.

## Are all servicemen soldiers?

Overview. Those who serve in a typical large ground or land force are soldiers, making up an army. Those who serve in seagoing forces are seamen or sailors, and their branch is a navy or coast guard.

## What happens if you refuse to do extra duty Army?

The penalties for willful dereliction of duties include: Bad conduct discharge;Forfeiture of pay and allowances; and/or. No more than 6 months of confinement.

## Can you take leave while on extra duty?

It is up to the commander to allow the Soldier to go on leave. Imposition of punishment begins immediately if a later start date is not stipulated during the announcement of punishment.

## What is extra duty like in the army?

Extra duty, on the other hand, is a form of non-judicial punishment that is used to correct misconduct that is in violation of the UCMJ. Such conduct may result from intentional disregard of or failure to comply with prescribed standards of military conduct.

## Can you say no in the military?

It’s OK to say you don’t have the time required for that commitment but would love to help out in another way. It’s OK to say “no.”

## When can you disobey an order in the military?

Military members disobey orders at their own risk. They also obey orders at their own risk. An order to commit a crime is unlawful. An order to perform a military duty, no matter how dangerous, is lawful as long as it doesn’t involve the commission of a crime.

## What happens if a soldier loses his weapon?

The military will literally shut down an installation to find an errant weapon. … The very smallest punishment for misplacing a weapon, if it’s found within a reasonable amount of time, is a “Company Grade Article 15.” That means you can lose one grade of rank, a week of pay, and two weeks of extra duty.

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## Can the military tap your phone?

Cell phones are taken from almost every soldier under investigation and thoroughly searched, even without court approval and with no judicial supervision. In one case last May, a civilian court denied the military investigators’ request for a warrant to examine a soldier’s phone.

## Can a soldier refuse to go to war?

A conscientious objector is an “individual who has claimed the right to refuse to perform military service” on the grounds of freedom of thought, conscience, or religion. … A number of organizations around the world celebrate the principle on May 15 as International Conscientious Objection Day.

## Can military enter your house?

In on-base housing the military police can only enter your home if you give them permission to do so or the base commander authorizes it.

The military has the capability to do so, if you’re using government issued equipment to text. That being said, it still requires probably cause for the military to actively monitor messages being transmitted.

## Can the military look at your bank statements?

The Freedom of Information Act allows the public to request access to various federal records. Federal agencies must make records available to the public on request, unless they fall within one of nine exemptions.

## What happens if you refuse a medicine test in the military?

Failing a military medicine test will most likely result in administrative or disciplinary action against the individual. It may even result in court-martial charges.

## How do I know if a soldier is real?

Verification of Military Service

Please use the Defense Manpower Data Center’s (DMDC) Military Verification service to verify if someone is in the military. The website will tell you if the person is currently serving in the military. The site is available 24-hours a day.

## Can Soldiers video call?

Telephone calls, video teleconferencing, and email

Depending on the mission and area of deployment, most Soldiers will have the ability to send and receive telephone calls, or use an Internet videophone or teleconferencing system. Most Soldiers will also have access to their email accounts.

## Can military call you back?

The rules vary, but, generally speaking, any reservist can be recalled to active duty for the duration of a declared war or national emergency, plus an additional six months. … If there is no state of emergency, the president can recall up to 200,000 reservists for at least 400 days.

## How do you tell if a guy in the military likes you?

How to Know if a Military Guy Likes You: 6 Signs

• He flirts with you. Like any other guy, the one you meet from the military will try to show that he is interested in you by flirting. …
• He trusts you. …
• He shares his feelings with you. …
• He calls you whenever he has time. …
• He gives you attention. …
• He looks for your support.
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## What does 45 mean in military?

Military Time Conversion Chart

## What does 45 45 mean in the Navy?

United States. In the United States Armed Forces, non-judicial punishment is a form of military justice authorized by Article 15 of the Uniform Code of Military Justice. NJP permits commanders to administratively discipline troops without a court-martial.

## What can you get NJP for?

Non-Judicial Punishment (NJP) is known by different terms among the services, such as “Article 15,” “Office Hours,” or “Captain’s Mast.” The purpose of NJP is to discipline service members for minor offenses such as reporting late for duty, petty theft, destroying government property, sleeping on watch, providing false

## How long is extra duty in the Army?

Extra Duty & Restricted Counseling

Weekdays Extra duty is from 1800 until mission complete or No Earlier Than 2300. Saturdays, Training Holidays, Holidays report times are 0900-2300. Sundays report times are 1300-2300. Extra duty personnel will be released when all tasks are completed but NET 2300.

## Is Captain’s Mast a court-martial?

Article 15 of the Uniform Code of Military Justice authorizes commanders to discipline service members without having to convene, or put together, a court-martial. Hence, it is also called non-judicial punishment (Captain’s Mast in the Navy) because it does not involve the judicial system.

## Are all servicemen soldiers?

Overview. Those who serve in a typical large ground or land force are soldiers, making up an army. Those who serve in seagoing forces are seamen or sailors, and their branch is a navy or coast guard.

## What happens if you refuse to do extra duty Army?

The penalties for willful dereliction of duties include: Bad conduct discharge;Forfeiture of pay and allowances; and/or. No more than 6 months of confinement.

## Can you take leave while on extra duty?

It is up to the commander to allow the Soldier to go on leave. Imposition of punishment begins immediately if a later start date is not stipulated during the announcement of punishment.

## What is extra duty like in the army?

Extra duty, on the other hand, is a form of non-judicial punishment that is used to correct misconduct that is in violation of the UCMJ. Such conduct may result from intentional disregard of or failure to comply with prescribed standards of military conduct.

## Can you say no in the military?

It’s OK to say you don’t have the time required for that commitment but would love to help out in another way. It’s OK to say “no.”

## When can you disobey an order in the military?

Military members disobey orders at their own risk. They also obey orders at their own risk. An order to commit a crime is unlawful. An order to perform a military duty, no matter how dangerous, is lawful as long as it doesn’t involve the commission of a crime.

READ ALSO  How to cut particle board

## What happens if a soldier loses his weapon?

The military will literally shut down an installation to find an errant weapon. … The very smallest punishment for misplacing a weapon, if it’s found within a reasonable amount of time, is a “Company Grade Article 15.” That means you can lose one grade of rank, a week of pay, and two weeks of extra duty.

## Can the military tap your phone?

Cell phones are taken from almost every soldier under investigation and thoroughly searched, even without court approval and with no judicial supervision. In one case last May, a civilian court denied the military investigators’ request for a warrant to examine a soldier’s phone.

## Can a soldier refuse to go to war?

A conscientious objector is an “individual who has claimed the right to refuse to perform military service” on the grounds of freedom of thought, conscience, or religion. … A number of organizations around the world celebrate the principle on May 15 as International Conscientious Objection Day.

## Can military enter your house?

In on-base housing the military police can only enter your home if you give them permission to do so or the base commander authorizes it.

The military has the capability to do so, if you’re using government issued equipment to text. That being said, it still requires probably cause for the military to actively monitor messages being transmitted.

## Can the military look at your bank statements?

The Freedom of Information Act allows the public to request access to various federal records. Federal agencies must make records available to the public on request, unless they fall within one of nine exemptions.

## What happens if you refuse a medicine test in the military?

Failing a military medicine test will most likely result in administrative or disciplinary action against the individual. It may even result in court-martial charges.

## How do I know if a soldier is real?

Verification of Military Service

Please use the Defense Manpower Data Center’s (DMDC) Military Verification service to verify if someone is in the military. The website will tell you if the person is currently serving in the military. The site is available 24-hours a day.

## Can Soldiers video call?

Telephone calls, video teleconferencing, and email

Depending on the mission and area of deployment, most Soldiers will have the ability to send and receive telephone calls, or use an Internet videophone or teleconferencing system. Most Soldiers will also have access to their email accounts.

## Can military call you back?

The rules vary, but, generally speaking, any reservist can be recalled to active duty for the duration of a declared war or national emergency, plus an additional six months. … If there is no state of emergency, the president can recall up to 200,000 reservists for at least 400 days.

## How do you tell if a guy in the military likes you?

How to Know if a Military Guy Likes You: 6 Signs

• He flirts with you. Like any other guy, the one you meet from the military will try to show that he is interested in you by flirting. …
• He trusts you. …
• He shares his feelings with you. …
• He calls you whenever he has time. …
• He gives you attention. …
• He looks for your support.

# What is synthetic upper

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## What does synthetic upper mean in shoes?

Synthetic materials and fabrics are textiles constructed from manmade materials as opposed to natural fibers. … By adding various chemicals to fabric, synthetic material for your shoes can be made water resistant, softer, wrinkle free, strain resistant among others.

## What does synthetic leather upper mean?

Artificial leather, also called synthetic leather, is a material intended to substitute for leather in upholstery, clothing, footwear, and other uses where a leather-like finish is desired but the actual material is cost prohibitive or unsuitable.

## Is synthetic upper waterproof?

Well, the short answer is: yes, any synthetic material can be made waterproof by adding certain chemicals to it.

## How good is synthetic leather?

Durability – Faux leather is very durable and will last a long time. It can withstand scratches and scrapes that would mar genuine leather. It is not prone to break or peel like leather. … Unlike genuine leather, it does not retain moisture, so faux leather items will not become warped or cracked.

## Does leather upper mean real leather?

Basically, it is the material that is stitched or glued to the sole to make a complete shoe. A leather upper is simply an upper that is made of leather. A leather upper can be made of genuine leather, top-grain leather, full-grain leather, or suede.

## Which is better synthetic leather or genuine leather?

Genuine leather is best for those who want a comfortable, durable and breathable boot or shoes to stand all day. Synthetic leather is best for those who want inexpensive, waterproof, lustrous boots and does not care much about the durability of boots. Primarily most of the boots are made from these two leather.

## How long does synthetic leather last?

Synthetic leather generally has a lifespan of about 2-4 years. Over that time period, it can begin to break, flake, and break down. Also, the surface can become dull and worn out. When considering furniture, clothing, or personal accessories, this is a relatively short time to have a piece or leather good for use.

## Is wearing fake leather bad?

Faux leather is a material made out of PVC (polyvinyl chloride), polyurethane, or polyamide microfiber. Faux leather made out of PVC is known to be potentially harmful to your health. … Faux leather also leaks toxic chemicals into the ground when placed it landfills, and emits toxic gasses when burned in an incinerator.

## Which leather is best?

full grain leather

Among real leathers, full grain leather is by far the best in terms of quality. Unlike the other grains, full grain has not been separated from the top grain or split layers, and is therefore the strongest and most dependable type of leather.

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## What is the difference between synthetic leather and real leather?

The fundamental difference between the two is that genuine leather is made from animal hides, such as cattle, buffalo or oxen. Faux leather is made from a plastic base and is then treated with wax, dye or polyurethane to create the colour and texture.

## What’s the difference between synthetic leather and faux leather?

The difference between the two leather is that, PU leather known as synthetic leather. The leather was created from polyurethane which is a plastic that has a similar feel and aspect to leather without harming any animals. … While faux leather was created with a fabric base with such as polyester.

## How can you tell if it’s real leather?

Real leather will feel soft and flexible, but it will also have a grainy feel. You also won’t be able to stretch faux leather, but real leather can be stretched. Lastly, real leather will feel warm, while fake leather feels cool. Leather has a distinct, oaky smell, while faux leather does not.

## How can I tell if my couch is real leather?

For real leather, you will find the fat wrinkles or the natural creases from the animal’s body. There is also that soft suppleness and a slightly bumpy feel on the surface of the leather. Whenever you sit on the sofa, it should give a warm feeling, which tends to say it is made of real leather.

## Does real leather peel?

Real leather is animal skin and so it needs to be maintained and moisturised – when it starts to dry out, it can eventually break and peel. … Leather of a poor quality, especially bonded leather, is also more likely to break and peel.

## Does real leather crease?

Press into the leather, looking for creases and wrinkles.

Real leather will wrinkle under the tough, just like real skin. Synthetic materials usually just depress down under your finger, retaining rigidity and shape.

## How can you tell if leather is good quality?

An item of good leather quality will usually have quality stitching to match. Flaws in stitching, hardware, and lining can indicate inferior leather. Pay attention to how it feels and looks. If the leather feels wrong (hard, plasticky, or thin), it probably is.

## How long should a leather sofa last?

Leather couches have different lifespans depending on the quality of leather and your budget. They last anywhere from 5 to 25 years. By caring for your couch, you can preserve the leather and keep it in tip-top shape much longer.

READ ALSO  How to cut particle board

## What does synthetic upper mean in shoes?

Synthetic materials and fabrics are textiles constructed from manmade materials as opposed to natural fibers. … By adding various chemicals to fabric, synthetic material for your shoes can be made water resistant, softer, wrinkle free, strain resistant among others.

## What does synthetic leather upper mean?

Artificial leather, also called synthetic leather, is a material intended to substitute for leather in upholstery, clothing, footwear, and other uses where a leather-like finish is desired but the actual material is cost prohibitive or unsuitable.

## Is synthetic upper waterproof?

Well, the short answer is: yes, any synthetic material can be made waterproof by adding certain chemicals to it.

## How good is synthetic leather?

Durability – Faux leather is very durable and will last a long time. It can withstand scratches and scrapes that would mar genuine leather. It is not prone to break or peel like leather. … Unlike genuine leather, it does not retain moisture, so faux leather items will not become warped or cracked.

## Does leather upper mean real leather?

Basically, it is the material that is stitched or glued to the sole to make a complete shoe. A leather upper is simply an upper that is made of leather. A leather upper can be made of genuine leather, top-grain leather, full-grain leather, or suede.

## Which is better synthetic leather or genuine leather?

Genuine leather is best for those who want a comfortable, durable and breathable boot or shoes to stand all day. Synthetic leather is best for those who want inexpensive, waterproof, lustrous boots and does not care much about the durability of boots. Primarily most of the boots are made from these two leather.

## How long does synthetic leather last?

Synthetic leather generally has a lifespan of about 2-4 years. Over that time period, it can begin to break, flake, and break down. Also, the surface can become dull and worn out. When considering furniture, clothing, or personal accessories, this is a relatively short time to have a piece or leather good for use.

## Is wearing fake leather bad?

Faux leather is a material made out of PVC (polyvinyl chloride), polyurethane, or polyamide microfiber. Faux leather made out of PVC is known to be potentially harmful to your health. … Faux leather also leaks toxic chemicals into the ground when placed it landfills, and emits toxic gasses when burned in an incinerator.

## Which leather is best?

full grain leather

Among real leathers, full grain leather is by far the best in terms of quality. Unlike the other grains, full grain has not been separated from the top grain or split layers, and is therefore the strongest and most dependable type of leather.

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## What is the difference between synthetic leather and real leather?

The fundamental difference between the two is that genuine leather is made from animal hides, such as cattle, buffalo or oxen. Faux leather is made from a plastic base and is then treated with wax, dye or polyurethane to create the colour and texture.

## What’s the difference between synthetic leather and faux leather?

The difference between the two leather is that, PU leather known as synthetic leather. The leather was created from polyurethane which is a plastic that has a similar feel and aspect to leather without harming any animals. … While faux leather was created with a fabric base with such as polyester.

## How can you tell if it’s real leather?

Real leather will feel soft and flexible, but it will also have a grainy feel. You also won’t be able to stretch faux leather, but real leather can be stretched. Lastly, real leather will feel warm, while fake leather feels cool. Leather has a distinct, oaky smell, while faux leather does not.

## How can I tell if my couch is real leather?

For real leather, you will find the fat wrinkles or the natural creases from the animal’s body. There is also that soft suppleness and a slightly bumpy feel on the surface of the leather. Whenever you sit on the sofa, it should give a warm feeling, which tends to say it is made of real leather.

## Does real leather peel?

Real leather is animal skin and so it needs to be maintained and moisturised – when it starts to dry out, it can eventually break and peel. … Leather of a poor quality, especially bonded leather, is also more likely to break and peel.

## Does real leather crease?

Press into the leather, looking for creases and wrinkles.

Real leather will wrinkle under the tough, just like real skin. Synthetic materials usually just depress down under your finger, retaining rigidity and shape.

## How can you tell if leather is good quality?

An item of good leather quality will usually have quality stitching to match. Flaws in stitching, hardware, and lining can indicate inferior leather. Pay attention to how it feels and looks. If the leather feels wrong (hard, plasticky, or thin), it probably is.

## How long should a leather sofa last?

Leather couches have different lifespans depending on the quality of leather and your budget. They last anywhere from 5 to 25 years. By caring for your couch, you can preserve the leather and keep it in tip-top shape much longer.

# How to start a small clothing business from home

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## How much money do you need to start a small clothing business?

Startup costs can vary greatly across different clothing lines, but in general, a small-sized clothing line will need a minimum of \$500 to get started, a medium-sized line should have between \$1,000 to \$5,000 for startup costs and a large line will need approximately \$25,000 to \$50,000 upfront.

## How can I start a clothing business with no money?

Step by Step Guide on How to Start a Clothing Line With No Money

1. FIND YOUR NICHE. Almost every successful and innovative idea comes from someone identifying a need in the market. …
2. CREATE A UNIQUE DESIGN. If you want to make sales, you need to connect with your target audience. …
3. GET SAMPLES. …
4. PUT ON A PRICE TAG.

## How much does it cost to start a brand?

A glance at branding budgets

Jan 17, 2017

## How many pieces do you need to start a clothing line?

When developing your collection, it is best to aim to have a minimum of 12 pieces/looks. If your budget allows, it would be great of you can have more than 12 pieces of course, as a larger collection will allow for better exposure and versatility throughout the collection.

## Can you put your own label on wholesale clothing?

Is it legal to relabel the apparel with your own labels when you have purchased it wholesale through a different company? Yes, it is legal within given parameters. However, there are strict guidelines governing the practice.

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## How much does it cost to start a clothing boutique?

Capital and Financing Requirements

Clothing boutique owners estimate the cost of starting a clothing store to be anywhere from \$50,000 to \$150,000. Of course, the actual amount may vary by location, products and individual facility.

## What fashion is fast?

Fast fashion is the term used to describe clothing designs that move quickly from the catwalk to stores to take advantage of trends. … Fast fashion describes low-priced but stylish clothing that moves quickly from design to retail stores to meet trends, with new collections being introduced continuously.

## Which fabric is most expensive?

wool

The most expensive fabric in the world is wool, which comes from the vicuña and can only be shorn from the animal once every two to three years. The vicuña is part of the camelid family, of which the alpaca and llama are two others whose wool is also sought after and valued.