4. A firm must produce either 1, 2, 3, 4, or 5 units of output. Its costs are given as follows: Fixed Cost Variable Costs $10 $1 $10 $4 $10 $20 $10 $30 $10 $90 Output 1 2 3 4 5 For what price will this firm earn zero profit?

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Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.