As prices rise, why will producers increase production of a product? O They are required to by law. O They are spending less money on resources. O They want to decrease the volume of sales. O They want to obtain higher profits.

As prices rise, why will producers increase production of a product? O They are required to by law. O They are spending less money on resources. O They want to decrease the volume of sales. O They want to obtain higher profits.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

As prices rise, why will producers increase production of a product?
O They are required to by law.
O They are spending less money on resources.
O They want to decrease the volume of sales.
O They want to obtain higher profits.
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MAR 1
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