Managerial Economics – Starting Up a Physician’s Practice 2

Do some research on various potential start-up expenses for your business based on research on wages, office
space rental rates, etc., in your home town. More specifically, write a three-page paper answering the following
1.What do you think the main expenses will be for your business? Make sure to discuss labor, rent, equipment,
and any other major expense you can think of.
2.Do some research on the internet or from your own personal contacts to get a ballpark estimate of how much
the specific expenses are in your home town for the items that you listed in your answer to Question 1 above.
You can use Craig’s List or similar webpages to get an idea about wages for different positions that you may
need to hire for, and there are many webpages that have advertisements for renting commercial property in
different parts of the country.
3.Finally, break down your expenses into fixed plus variable costs. Make sure to cite two of the required
background readings as justification for your classifications of your different expenses into the fixed and
variable cost categories.

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