A company makes a $5 profit on each non-faulty product it sells. Approximately 2% of the products manufactured are faulty, with no way to discover which ones are faulty before delivery. If replacement-and-repair costs for the faulty products are $100 each, what is the profit per item? a. loss of $15.10 b. loss of $15 c. profit of $2.90 d. profit of $3.00
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