With current technology, suppose a firm is producing 800 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 6 units of labor, 5 units of land, 4 units of capital, and 2 units of entrepreneurial ability, selling at prices of $40, $60, $60, and $20, respectively.
Required:
1. Assume the firm can sell these 800 loaves at $1 per unit, will it continue to produce banana bread?2. What is the firm's total revenue?3. What is the firm's total cost?4. What is the firm's profit or loss?

1. No

2. $800

3. 820

4. Loss = $-20

Explanation:

Total revenue = price x quantity = 800 x $1 = $800

Total cost = ( 6 x $40) + (5 × $60) + (4 × $60) + (2 × $20) = $820

Profit / loss = Total revenue - Total cost

$800 - $820 = $-20

Because the firm is earning a loss, the firm would not continue to produce.

I hope my answer helps you.

the correct answer is - no.

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