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The marginal cost to produce the first pie is .
Ed's total production costs for one flower arrangement are .
The difference in marginal cost between the production of the second pie and the seventh pie is .
The profit when the company makes five widgets is .
The marginal cost for producing the fourth pie is .
To maximize profit, the company should produce widgets per day.
The company's profits would decrease by if the company made seven widgets.
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Case Study: Starting a Business