Question 1

Question 2

Question 3

Question 4

Question 5

Question 6

Question 7

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Part 1

You are upgrading to better production equipment for your firm's only product. The new equipment will allow you to make more of your product in the same amount of time. Thus, you forecast that total sales will increase next year by

17%

over the current amount of

97,000

units. If your sales price is

$21

per unit, what are the incremental revenues next year from the upgrade?