You are a manager at Glass Inc. — a mirror and window supplier. Recently, you conducted a study of the production process for your single-side encapsulated window.The results from the study are summarized below and are based on the 8 units of capital currently available at your plant. Workers are paid $ 60 per unit, per unit capital costs are $ 20, and your encapsulated windows sell for $ 12 each. Given this information, optimize your human resource and production decisions. Find a profit you earn. Labor Output   0 0   1 10   2 thirty   3 60   4 80   5 90   6 95   7 95   8 90   9 80   10 60

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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.