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Given the cost information below, if this firm increases its production and sales from 3 to 4 units per day, given a market price of $2,500 per unit, the profit margin Quantity produced/day Total Cost 0 $2,000 1 $2,500 2 $2,800 3 $3,300 4 $4,100 5 $5,300 6 $7,000 O will increase. will stay the same. O will fall.

Given the cost information below, if this firm increases its production and sales from 3 to 4 units per day, given a market price of $2,500 per unit, the profit margin Quantity produced/day Total Cost 0 $2,000 1 $2,500 2 $2,800 3 $3,300 4 $4,100 5 $5,300 6 $7,000 O will increase. will stay the same. O will fall.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Given the cost information below, if this firm increases its production and sales from 3 to 4 units per day, given a market price of $2,500 per unit, the profit margin Quantity produced/day Total Cost 0 $2,000 1 $2,500 2 $2,800 3 $3,300 4 $4,100 5 $5,300 6 $7,000 O will increase. will stay the same. O will fall.
Transcribed Image Text:Given the cost information below, if this firm increases its production and sales from 3 to 4 units per day, given a market price of $2,500 per unit, the profit margin Quantity produced/day Total Cost 0 $2,000 1 $2,500 2 $2,800 3 $3,300 4 $4,100 5 $5,300 6 $7,000 O will increase. will stay the same. O will fall.
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