Question 17 A firm manufactures locks and incurs a fixed cost of Rs, 100,000 per month. It sells 500 locks monthly for Rs, 750 each. The variable cost of the lock is Rs. 500 The market is Answer saved suddenly flush with cheaper imports selling at Rs. 450. Which of the following actions would be the best course of action for the firm? Marked out of 0.25 Remove flag Select one O a. The firm should reduce its price to Rs. 650 for the short term. O b. The firm should sell at Rs. 700 O c. The firm should continue at its original price of Rs. 760 O d. The firm should temporarily shut down the business Next page Previous page You are logged in as GOPAL R. . (Log out) $1-25 MRAZ416