A firm produces two products, W & R. The cost of material and labor for a unit of W is $24 & for a unit of R is $19. The fixed cost is $1420 per month. i) Express the monthly cost in terms of W & R; ii) what is the monthly cost of producing 100 each of W & R?; iii) if the firm can sell one unit of W for $98 and one unit of R for $72, express the profit in terms of W & R; iv) What will be monthly profit of producing and selling 100 each of W & R?
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