Question
Cameron's Lamp Emporium produced 300 lamps but sold only 230 of the units it produced. The average cost of production for each unit of output
Cameron's Lamp Emporium produced 300 lamps but sold only 230 of the units it produced. The average cost of production for each unit of output produced was $100. The price for each of the 230 units sold was $90. Total profit for Cameron's Lamp Emporium would be:
a. $27,000.
b. -$2,300.
c. $20,700.
d. $30,000.
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
