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Suppose for environmental reasons, the store owner in a competitive market decides to switch to paper straws which costs 2 cents more, so that the

Suppose for environmental reasons, the store owner in a competitive market decides to switch to paper straws which costs 2 cents more, so that the average cost of a milkshake is now $1.02. How much profit does the store receive now? (Remember, the firm is a price taker - The market price of a milkshake is $2.00 and the store sells 1,000 milkshakes per day) a) $1000 b) $1020 c) $980 d) $0 e) $2000

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