Use the figure below to answer the following questions.
Figure 3.4.1
-At price P1 in Figure 3.4.1
Definitions:
NAICS Codes
North American Industrial Classification System codes that use numerical values to identify industries.
NAFTA Region
Refers to the geographic and economic region under the North American Free Trade Agreement, encompassing Canada, the United States, and Mexico.
Variable Costs
Costs that vary directly with the level of production or sales volume, such as materials and labor.
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