Use this information together with the instructions on your Question Set to answer the questions. COSTS AND REVENUES FOR URGENT CARE CENTER COSTS: Urgent Care Center All costs and revenues are per year - Labor Cost 0 3 Primary Care Physicians M1 50,000 $ 450,000 0 7 RN/BSN Salary Salaam $ 441,000 0 Payroll Taxes (all employees) $ 223,200 0 Benets (all employees) $1,336,500 - Other Variable Costs 0 Supplies & Misc. Overhead $ 102,400 0 Advertising $ 35,000 TOTAL VARIABLE COST $2,588,100 I Capital Cost 0 Annualized Building Cost $ 332,756 0 Annualized Equipment Cost $ 66,551 I Other Fixed Costs 0 Insurance $ 244,021 0 Legal $ 166,378 0 Administrative $ 299,480 0 Administrative Fee to Franchise ['normal prot') $ 120,000 TOTAL FIXED COST $1,229,186 REVENUES: Urgent Care Center Each of the three [3) primary care physicians can see 3500 patients in a year, at an average fee per patient of $260. Question 3: Finding Economic ProtZLoss Remember that that 'normal prot' of a facility is included in Total Cost by economists. It is the factor payment to the person who organizes the business and bears the risk, and therefore it must be covered by Revenues if the facility is to remain in business. If the facility is doing better than breakeven, there is an "economic profit"; if the facility is not breaking even, there is an "economic loss." Step 1: Find the Total Revenues by multiplying the fee per patient by the number of patients treated by all physicians. Step 2: Subtract the Total Cost from the Total Revenues. Is this number positive? If yes, there is an economic profit. If no, there is an economic loss. Step 3: Is there an economic prot or an economic loss, and what is the amount