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AssignmentLong Text

Case Study: Starting a Business

Question 17 • 2102320-Economics HONORS - Edgenuity Teacher

After you analyzed demand, you took steps to make sure your business made sense financially.How will thinking on the margin help increase the chance of long-term success for your business, even if additional competition enters your community?

Answer

Answer:

Thinking on the margin helps me compare the additional revenue and cost of each pair of inserts. I can reduce production when an additional pair is no longer profitable and adjust prices or offer discounts to compete while still maximizing profits.

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