Reference no: EM132337220

Can you go into detail explaining your answer and how you came to that conclusion to help me better understand.

Jamal opened a Mega Fitness center. He signed a year-long lease for a building that will cost $500 per month. He bought all of his own equipment for $3,000. Jamal's labor costs for two trainers will be $4,000 a month. Jamal already contracted with 100 clients. Each client will pay $60 per month. What are Jamal's fixed costs, variable costs, average fixed costs, average variable costs, and average total costs? Calculate what Jamal's profit or loss would be.