3. A firm manufactures women clothing. The following costs are incurred by the firm:(i)Cloth and Pablos$45 000S1 200(ii)(ii) Permanent workers (salary)(iv) Part-time workerThread$22 000S 1300$20 000$89 500(v)Rent(a) Calculate the total fixed cost of the firm.(b) Calculate the total variable cost of the firm.

a) Fixed costs are the costs which need to be paid irrespective of the level of production. Examples…

3. A firm manufactures women clothing The following costs are incurred by the firm: $45 000 S1 200 (i) Cloth and Pablos (ii) Thread (ii) Permanent workers (salary) (iv) Part-time worker $22 000 S 1 300 $20 000 $89 500 (v) Rent (a) Calculate the total fixed cost of the firm. (b) Calculate the total variable cost of the firm.

3. A firm manufactures women clothing The following costs are incurred by the firm: $45 000 S1 200 (i) Cloth and Pablos (ii) Thread (ii) Permanent workers (salary) (iv) Part-time worker $22 000 S 1 300 $20 000 $89 500 (v) Rent (a) Calculate the total fixed cost of the firm. (b) Calculate the total variable cost of the firm.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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