Producers on the best combinations of resources to use
How did producers decide on the best combinations of resources to use? Who made these resources available, and why?
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The quest for profit led firms to produce these goods. Producers looked for and found the least-cost combination of resources in producing their output. Resource suppliers, seeking income, made these resources available. Consumers, through their dollar votes, ultimately decide on what will continue to be produced.
If the price of a good is given, how does a consumer choose/decide as to how much of that good to purchase?
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