A company produces radios which it sells for $33 each. There are fixed costs of $27,000 each month and marginal costs of $15 per radio. How many radios must be produced and sold per month to make a profit of $1800?

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Explicit and Implicit Cost Analysis

The entire idea of the cost of production or production cost is applied corresponding or we can say that it is related to money cost. Money cost refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factors of production or factor services.