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Question
Suppose a perfectly competitive ukulele factory can produce 35 ukuleles at an output at which marginal cost equals marginal revenue. The price per ukulele is $1300 and the average total cost is $1500. What is the profit or loss that this furniture factory is earning?
A) $700.00
B) -$7,000.00
C) -$1,050.00
D) -$450.00
Answer
This answer is hidden. It contains 1 characters.
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