Task: Attempt ALL questions (Show all calculations /working formula) Question 1: Suppose a company IT Logistics incurs the following costs: IT Technician salary OMR 400 Machinery & electrical equipment OMR 300 Raw materials OMR 100 The company owns the building site so it does not have to pay the usual OMR 500 per month in rent. Calculate: (1) What is the explicit cost of production? (ii) What is the implicit cost of production? (ii) What is the total cost of factor inputs used? (iv) What is the total cost of non-factor inputs used? (04 marks)