9:26 WeChat . 5G 80 TEST 31 MAY 2025.docx /AEM2013/02(1-3) TEST 1 Answer all the following questions. QUESTION 1 (10 MARKS) Total Question CO PO/Taxonomy Marks 1 CO1 PO1/C3 10 2 10 Total 20 In addition to its namesake cupcake, Hostess Brands produces Twinkies. Huge mixing baking- cooling-wrapping machines produce both these products in Hostess Brands' factory in Emporia, Kansas. These machines mix the batter for each of the products, pour the batter into pans, and move the pans into long, winding ovens where they are baked and then into equally long, winding tunnels where they are cooled. Before wrapping them, the machines finish the tasty treats by injecting filling into them and applying any necessary topping. The machines even automatically clean the baking pans! Based on the above statement, identify which of the following are explicit costs for Hostess Brands, implicit costs, or which are not costs at all? Explain each of your answers. a. The cost of the electricity used to run the production machines b. The salary paid to the night-shift manager c. The wear on the machines as they are used d The price paid for the paper used to wrap the products e. The fixed lease payments made on the factory QUESTION 2 (10 MARKS) marks) (2 marks) (2 marks) marks) marks) Use the following demand and supply schedule for laptop to answer the questions below: Table 1: Demand and Supply of Laptop