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ue or False: If Dmitri's Fire Engines were a competitive firm instead and $75,000 were the market price for an engine, decreasing its price from $75,000 to $50,000 would result in a decrease in the production quantity, but an increase in total revenue.

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Answer:

False.

Explanation:

If Dmitri's Fire Engines were competitive firm instead of $100,000 were the market price for an engine, decreasing its price from $100,000 to $50,000 would result in a decrease in production quantity, but increase in total revenue. The statement is false.

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