0
Firms produce multiple products because the aim is to be a producer that maximizes profit. Firms produce multiple products to get maximum profit.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
What factors influence which products firms choose to produce?
In simple terms Supply and demand
Which economic systems has the greatest degree of competition?
Perfect competition. (Many small firms that produce similar products; buyers and sellers have good knowledge of the businesses)
Monopolistically competitive firms are typically characterized by?
many firms selling products that are similar, but not identical.
The general willingness of firms to produce and sell a product at various prices is?
The general willingness of firms to produce and sell a product at various prices is known as supply.
Supporters of command economies claim that firms in market economies do not produce the goods and services wanted by the poor because?
firms produce only what people with money want and need.
What factors influence which products firms choose to produce?
In simple terms Supply and demand
When firms choose to skip test marketing for complex high tech products they usually do so because the products?
A: are too costly to produce in small runs pg.418
Multiple business units owned by a common set of shareholders make up a firm or company and multiple firms that sell similar products to similar customers make up?
Joy =] x
Which economic systems has the greatest degree of competition?
Perfect competition. (Many small firms that produce similar products; buyers and sellers have good knowledge of the businesses)
Which term means the amount that firms will produce and sell at a specific price?
Quantity supplied is the amount that firms will produce and sell at a specific price.
Monopolistically competitive firms are typically characterized by?
many firms selling products that are similar, but not identical.
The general willingness of firms to produce and sell a product at various prices is?
The general willingness of firms to produce and sell a product at various prices is known as supply.
Do service firms produce goods yes or no?
Yes.
How does Sony produce its products?
They produce their products by skill.
Supporters of command economies claim that firms in market economies do not produce the goods and services wanted by the poor because?
firms produce only what people with money want and need.
Firms produce goods and services?
Gross national product...
Why must firms make decisions about which goods they will produce?
because firms have access to limited resources of land, labor, and capital
