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Leon's Furniture Inc. makes furniture. The marginal cost of a dining set has been calculated as $500, and the full cost is $750. The dining
Leon's Furniture Inc. makes furniture. The marginal cost of a dining set has been calculated as $500, and the full cost is $750. The dining set normally sells for $1,500. Because the company is changing over to a new design, it is anxious to sell the last dining set it has in inventory. Leon's Furniture Inc. would sell the set for * a) at least $1,500, which is the normal selling price b) at least $750 to cover the full cost c) at least $500, which is the marginal cost d) any amount, as the inventory cost of the set is a sunk cost e) none of the above
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