A toy factory can produce its output of 500 toys per day with either of two processes. Process A uses ten workers and three machines. Process B uses five workers and seven machines. Each worker's wage is $100 per day and the cost of renting a machine is $90 per day. a. What are the total daily costs of employing capital and labour in Process A? Process B? (2 marks) b. Will the shop's owner choose Process A or B? (1 mark) c. Besides the costs of labour and capital, the owner pays $100 in building rent and $50 in business taxes per day What are the shop's daily explicit costs? (1 mark) d. If the firm sells its toys at a price of $3 each, what is its daily accounting profit? (1 mark e. The owner estimates that she could earn $160 a day if she managed another factory instead of her own factory and the $80 000 she invested in her business could earn $50 a day if she put it into her friend's business venture. What are the shop's daily implicit costs? daily economic costs? (2 marks) f. What is the shop's daily economic profit? (1 mark) g. Based on the shop's current revenue and costs, should the owner close down her business? Why or why not? (1 mark)