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Suppose you own a television factory and at your current level of output you have average total cost of $800 per television, average variable costs
- Suppose you own a television factory and at your current level of output you have average total cost of $800 per television, average variable costs of $700 per television, and a marginal cost of $400.If the price your buyers are willing to pay is $500, should you decrease or increase production?Explain your reasoning, and make sure to cite at least one of the required readings in your answer.
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