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.
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Illustrates the inverse relationship between price and quantity?
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