Question
Consider this situation.
A factory makes blue and green widgets.
The cost of making both types of widgets is the same.
Both types of widgets sell for $5 apiece.
The factory can make 20 widgets of either color in a day.
The factory has been making 10 blue and 10 green widgets a day.
The price of blue widgets rises to $6.
Assuming that all other factors remain the same, how should the factory respond to this increase of price?
A factory makes blue and green widgets.
The cost of making both types of widgets is the same.
Both types of widgets sell for $5 apiece.
The factory can make 20 widgets of either color in a day.
The factory has been making 10 blue and 10 green widgets a day.
The price of blue widgets rises to $6.
Assuming that all other factors remain the same, how should the factory respond to this increase of price?
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