Question: Answer the questions with a brief and proper explanation. Write down the right numbers and equations you used to get the answers under the right
Answer the questions with a brief and proper explanation. Write down the right numbers and equations you used to get the answers under the right title. Write an answer under total revenue and then labour cost. Then move to the next and last one should be profit or loss. Then move on to the banana bread question and the firm one after which is the last one. I will not submit it as my own. Please and thank you. This is for microeconomics.
Q3 Suppose a rm is producing 1500 packets of whole wheat bread daily. Assume that the least-cost combination of resources in producing these breads is 35 units of labour, 25 units of land, 32 units of capital, and 50 unit of entrepreneurial ability, selling at prices of $50, $45, $63, and $48, respectively, Firm sells these 1500 packets at $3.5 per packet. Based on the given information, answer the questions given below. 9 marks Total revenue Labour cost Land cost Capital cost Entrepreneurship cost Total cost Prot or loss? Will it continue to produce banana bread? Why? If this firm's situation is typical for the other makers of banana bread, will resources flow toward or away from this bakery good
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