Pink Seafood Restaurant is a popular spot for families in the Montclair, NJ area. On a typical Friday night, the restaurant serves 190 people with an average bill of $54 per person. On a typical night, the cost of unprepared food is $20 per person and the cost of beverages averages $16 per person. Pink has been approached by the Montclair State University School of Business, who wishes to hold their accounting symposium at the restaurant. Ron PINK, the owner, as agreed to charge MSU $70 per person for food, wine and desserts for 175 people. Furthermore, he estimates that the cost of unprepared food for the MSU function will be $35 per person, with beverages costing $13 per person. In order to accommodate the MSU group, however, PINK will have to close the restaurant for dinner on that night. No additional staff will need to be hired to accommodate the group from Montclair State. REQUIRED 1) Is there an opportunity cost associated with doing the MSU function? Explain IN WORDS why or why not. 2) What's the "real cost" (as used in this course) of the MSU function? GIVE THE TOTAL COST, NOT THE PER-UNIT OR PER-MEAL). Hint: What