Raiman's Shoe Repair produces custom-made shoes. When Mr. Raiman produces 12 pairs per week, the marginal cost of the 12th pair is $84, and the marginal revenue of the 12th pair is $70 . What would you advise Mr. Raiman to do?
a. shut down the business
b. produce more custom-made shoes
c. decrease the price
d. produce fewer custom-made shoes
d
Economics
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