Answer Happy

Ahmad has recently started a new bread-making business. As an analyst, assist Ahmad in providing an overview of what is going on in the production.. a) In the short run, the following cost was incurred by a bread factory. State whether each cost is a fixed or variable cost. Salary of employees Rent of factory Cost of power Interest on a loan Flour and butter b) Differentiate between short-run and long-run production. iv) v) (5 Marks) (5 Marks)