Economics -- Week 4, Part C
Production decisions are affected by the need of maximize productivity and by the costs of production. When setting production levels, business owners must consider several factors regarding output, as well as the various costs associated with producing goods.
VIDEO OBJECTIVES
- Explain why producers look at productivity when making supply decisions
- Describe how varying the levels of input affects the levels of output
- Explain how changes in production costs affect producers' supply decisions
By Christian Carpenter
