A friend of main is planning to construct a school that can accommodate 200 students, now the school has 150 students. the total cost of construction is RO 700,000. They will have a bank loan installment RO 3500 monthly. They are planning to charge each student between RO 1100 and RO1400.
Operating cost if number of students are 150 is RO 160,000.
Operating cost if number of students are 200 is RO 200,000.
Please calculate and define the following:
a). Find accounting profit if 150 students and if 200 students
b). Calculate and define marginal cost
c). Calculate and define marginal revenue
d). Calculate and define Marginal product
e). Calculate and define Average cost
f).Calculate and define Average revenue
g). Define what is economic profit
h). Define Normal profit
i).Define Accounting profit
j). At what point the school reached maximum benefit
k). Are there any effect of Covid19 on school overall? Explain
