Why should the firm reduce the selling price of microchip, Microeconomics

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Why should the firm reduce the selling price of microchip

Problem

Pricing An engineer has discovered a way to improve the production of a microchip to reduce its marginal cost from $1 to $0.80. Should the firm reduce the selling price of the microchip by $0.20. Explain why or why not.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Why should the firm reduce the selling price of microchip

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Microeconomics: Why should the firm reduce the selling price of microchip

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