(Solved): 3. The components of marginal revenue Karim's HookNLadder is the only company ...

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3. The components of marginal revenue Karim's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Karim initially produced seven trucks, but then order to sell the additional fire truck, Karim must lower the price from \( \$ 100,000 \) to \( \$ 50,000 \) per truck. Notice that Karim gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial seven engines because they are all sold at lower engine at \( \$ 50,000 \). Karim increase production from 7 to 8 fire engines because the dominates in this scenario. from \( \$ 100,000 \) to \( \$ 50,000 \) would result in a decrease in the production quantity, but an increase in total revenue. True False Karim increase production from 7 to 8 fire engines because the dominates in this scenario. from \( ? \quad ; 0,000 \) would result in a decrease in the production quantity, but an increase in total revenue. True False Karim increase production from 7 to 8 fire engines because the dominates in this scenario. True or False: If alternatively Karim's HookNLadder were a competitive firm and : he market price for an engine, decreasing its price from \( \$ 100,000 \) to \( \$ 50,000 \) would result in a decrease in the production quantity, in total revenue. True False