Question: 2. A firm has redesigned its production process so that it now takes 15 hours for a unit to be made. Using the old process,

2. A firm has redesigned its production process so that it now takes 15 hours for a unit to be made. Using the old process, it took 20 hours to make a unit. If the process makes two units each hour on average and each unit is worth 500 euros, what is the reduction in work-in-process value? (3 points)

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