no special instruction

27, 28 Suppose you are the owner of a firm producing candy. You produce candy "for each season,\" so now it is Valentine candies for the February 14 holiday. Your production costs are shown in the following table. Initially, you produce 100 boxes of Valentine candies per time period. Then a new customer calls and places an order for an additional box of Valentine candies, requiring you to increase your output to 101 boxes. She offers you $1.50 for the additional box. Valentine Candies Production 27. 28. Number of Boxes Average cost per box Total Cost Marginal Cost 100 $1.00 b/ 101 & 100 boxes 101 $1.01 b/ 102 & 101 boxes 102 $1.02 b/ 103 & 102 boxes 103 $1.03 Show your work as you complete the (27) total cost column and (28) marginal cost column. This is Information for a small business making rocking chairs. The owner of the business pays one employee $20,000 per yea r. The rent is $5,000/year and costs for wood and other inputs are $50,000/year. The owner gave up a job paying $30,000 a year to start this business, knowing that people need rocking chairs to destress after exams and tough days at work, especially in the midst of a pandemic. The owner invested savings which had been earning $5000/year in interest. Advertising via traditional means (catalogs) and online advertising costs $10,000/yea r. Total revenue for the year is $150,000. i C :1 3 i E Show your work for each question. 29. Calculate (list) Explicit Costs. 30. Calculate (list) Implicit Costs. 31. Calculate Accounting Prot or Loss. 32. Calculate Economic Prot or Loss. 33. We know economics has a vocabulary unique to the discipline. What do economists mean by \"normal profit"