The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: 
The gross profit for the Locomotive Division is:
Definitions:
Average Total Cost
The sum of fixed and variable production costs divided by the total amount of produced goods.
Long-run
A time period in which all factors of production, including capital, are variable, allowing full industry adjustment.
Price Discrimination
A pricing strategy where a seller charges different prices to different customers for the same product or service, based on factors other than the cost of production.
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