Question: Question 6 2 pts Joe's Widgets has decided to increase production capacity which will decrease the price of widgets in the near term. Right

Question 6 2 pts Joe's Widgets has decided to increase production capacity

Question 6 2 pts Joe's Widgets has decided to increase production capacity which will decrease the price of widgets in the near term. Right now, Joe's has a maximum capacity of 80 widgets per year that corresponds to a price of $75 per widget. Last year, Joe's sold 65 widgets during the year. Joe's will increase widget capacity to 300 units per year. Next year, the firm expects to sell 100 widgets at a price of $65 per widget. The Price Effect, in total dollars, for the firms sales next year is $ write the dollar sign in your answer. Do not

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