Assume Robbie's Robots operates in a perfectly competitive market producing 3,000 robots per day. At this output level, the selling price is $ 800 per robot and the marginal cost is $ 625 per robot. It follows that producing one more robot will: cause this firm's Select one .a. profits to remain unchanged . b. profits to increase . c. profits to decrease d. total cost to decrease
Assume Robbie's Robots operates in a perfectly competitive market producing 3,000 robots per day. At this output level, the selling price is $ 800 per robot and the marginal cost is $ 625 per robot. It follows that producing one more robot will: cause this firm's Select one .a. profits to remain unchanged . b. profits to increase . c. profits to decrease d. total cost to decrease
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Assume Robbie's Robots operates in a
.a. profits to remain unchanged .
b. profits to increase .
c. profits to decrease
d. total cost to decrease
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