{ . . . E3 v exam_280421.pdf Page 1 of 5 Edited exam_280421.pdf document. esp-a 2 for it. Required: Q Q [I] 2 V 1:? Q Search Answer to the questions and return your answers to optima return box. Multiple choice questions can be answered to this document Other questions you can answer to word or excel 1. Explain the following terms in your own words, direct copies from some sources will not be accepted (max 4p): Fixed cost Relevant cost Break-even point Opportunity cost 2. Kone 0y has three products, which require the same production facilities. Information about the production cost for one unit of its products is as follows (max 8p): Product A B C Labour: Skilled 6 9 3 Unskilled 2 4 10 Materials 12 25 14 Other variable costs 3 7 7 Fixed cost 5 10 10 All labour and materials are variable costs. Skilled labour is paid 12 eur an hour and unskilled labour is paid 8 eur an hour. All references to labour oost above are based on basic rates of pay Skilled labour is scarce, which means that the business could sell more than the maximum that it is able to make of any of the three products. Product A is sold in a regulated market and the regulators have set a price of 30 eur per unit . State, with supporting workings, the price that must be charged for products B and C, such that the business would find it equally protable to make and sell any of the three products. . State, with supporting workings, the maximum rate of overtime premium that the business would logically be prepared to pay its skilled workers to work beyond the basic time. O a a 3 a O !: theanswer wait /