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cost Total variable Cost o (no surfboards) Total fixed $ 186,000 & 500000 228080 $ 37900g $ 800000 528555 12ooo s 558,000 500000 losos $

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cost Total variable Cost o (no surfboards) Total fixed $ 186,000 & 500000 228080 $ 37900g $ 800000 528555 12ooo s 558,000 500000 losos $ 800000 4 the following All investor & have utility function - U= E (o) - (5.0) Ao? Determine the 8 quergy gain achieved by the merged. companies

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