Firms are motivated to minimize production costs because:

it is the most environmentally friendly way to produce goods.

least-cost production techniques use the smallest total quantity of resources.

competitive pressures in the market will drive out higher-cost producers.

the government provides tax credits and subsidies to low-cost producers.

Question

Firms are motivated to minimize production costs because:


it is the most environmentally friendly way to produce goods.
		
least-cost production techniques use the smallest total quantity of resources.
		
competitive pressures in the market will drive out higher-cost producers.
		
the government provides tax credits and subsidies to low-cost producers.

anonymous · Answer

competitive pressures in the market will drive out higher-cost producers.
This option is right.

anonymous · Answer

I read the chapter and notes a couple of times but could not find it.

Thank You

anonymous · Answer

YOUR MOST WELCOME........