Question: Raphael increase production from 7 to 8 fire engines. True or False: If Raphael's Fire Engines were a competitive firm instead and $100,000 were the

Raphael increase production from 7 to 8 fire engines. True or False: If Raphael's Fire Engines were a competitive firm instead and $100,000 were the market price for an engine, decreasing its price from $100,000 to $50,000 would result in an increase in production quantity and total revenue. True False

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