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Please determine whether the following sentence is true or false. And explain your answer. A firm is currently producing 100 units of output per day....
Please determine whether the following sentence is true or false. And explain your answer.
A firm is currently producing 100 units of output per day. The manager reports to the owner that producing the 100th unit costs the firm $5. The firm can sell the 100th unit for $4.75. The firm should continue to produce 100 units in order to maximize its profits.