Multiple Choice
A manager invests $400,000 in a technology that should reduce the overall costs of production.The company managed to reduce their cost per unit from $2 to $1.85.All else equal,if the firm continues its production in the same economic environment,the firm's economic profits should
A) increase if output is low enough
B) decrease
C) stay the same
D) increase if output is high enough
Correct Answer:
Verified
Correct Answer:
Verified
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