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A contractor was in the business of building storage tanks. The learning rate was 0 . 8 0 on doubled averages. He broke even on
A contractor was in the business of building storage tanks. The learning rate was on doubled averages. He broke even on the twelfth unit, which brought the average of all the units to hours per unit with a labor cost of $ per unit. What was his profit margin on a contract for such units? Assume that this was the first contract and that he was paid the same price per storage tank. Give the profit margin in dollars and in percent.
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