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You sell t shirts at $10 each, and you have to pay the worker at each workstation $500/day.You went and hired a student who did
You sell t shirts at $10 each, and you have to pay the worker at each workstation $500/day.You went and hired a student who did some market research and told you that you could increase your price to $12 but only 300 people a day would buy your stuff. If you raised your prices, what is your percent change in profit from your baseline scenario of maximizing your output at $10 a shirt?
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